from “mobile banking” ” to “engaging banking” · “make the mobile the primary payments...
TRANSCRIPT
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From From ““Mobile BankingMobile Banking”” to to ““Engaging BankingEngaging Banking””
Angelos Karakerezis, PhDHead of Group Electronic Banking Channels
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The need for Mobile Banking services was always there…
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But now it has become important..!
“ Do you know what our busiest branch is in the UK?
It’s our mobile app on the 7:15 am train to Paddington”
Ross Mc Ewan, CEO RBS
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Numbers speak for themselves..
Source: British Bank Association Report, 2014
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The story…
•Barclays took 13 years to get two million
customers using internet banking
•It took just two months to reach that number
for mobile banking
•The average Barclays customer visits a branch
less than twice a month and uses the mobile app
26 times a month
Transaction trends depict a dramatic shift towards digital channels, especially mobile…
WEB/TABLET “SCREENS”
7–10 times per month
BRANCH
5–10 times per month
CALL CENTRE, IVR & VOICE RESPONSE
5–10 times per month
ATM
3–5 times per month
MOBILE
20–30 times per month
2016Digital interactions with banks will outnumber branch interactions 300 to 1
Data as of 09/2014:•Barclays Mobile Apps have been downloaded more than 5 million times since launch in 2012, and are being accessed 17.5 million times a week •Barclays Mobile Apps move over £4 billion ($7 billion) a month (US$2,500 every second / $160,000 every minute). Pingit P2P payment app a major contributor•The bank is cutting 1,700 customer-facing jobs from the branch network
1. US Data2. BBVA estimates that only 5% of customer interaction in the
banking industry will be in branch by 2017 (yet high-value)
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Numbers speak for themselves..
Source: Bank of America, “Trends in Consumer Mobility Report”, 2014
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Mobile growth comes primarily through Convenience !
Engaging user experience
• Native design, Usability, Gamification features
• Always with you – integral part of your life
Device technology capabilities allow for
• Mobile only services (via GPS, Camera, Accelerometer)
• “Everyday”
transactions (payments, commerce)
Significant mobile device penetration & usage
• Feature phones are dying over smartphones
• Mobile internet exceeds desktop for various uses
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1. “Provide supreme User Experience”
Mobile Banking Trends
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“Provide supreme User Experience”- Devices
La Caixa mobile apps for SmartWatch & Google Glasses
Any device is a potential delivery channel for mobile services. Transaction alerts, stock exchange info, even payment capabilities can be performed through wearable devices, boosting engagement & usability to very high levels
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“Provide supreme User Experience” - GamificationApart from an engaging design across devices, available technology allows to integrate gamification features that make the whole experience more fun & engaging
Chase - Location based background
Southern -Shake to check balance
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“Provide supreme User Experience”- SupportPremium mobile customer support, self serviced or one2one, through voice recognition & video banking
BBVA Voice Banking assistant
Barclays Video Banking
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2. “The Mobile as a payments medium”
Mobile Banking Services Trends
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“Make the Mobile the primary payments Medium” - mWallet
According to Forrester, mWallet is a service that lets consumers to manage digitized valuables - offers, coupons, gift cards, IDs, electronic receipts, product information – from multiple brands And that enables payment transactions
“The vision is to replace the wallet. And the starting point is the payments”
Tim Cook, CEO Apple
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Instant Peer 2 peer payments via Social networks, emails, mobile numbers without the need of using bank accounts.
“The Mobile as a payments Medium” – P2P payments
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3. “Integrating Bank Services in customer’s everyday mobile life”
Mobile Banking Services Trends
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“Integrate Bank Services in customer’s everyday life” - PFM
Sophisticated Personal Financial Management (PFM) tools for expenses management, goals setting & budgeting allow users to gain control over their finances while on the go
Simple Bank - PFMXero – Cash flow Dashboard
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Simple Bank - PFM
https://www.youtube.com/watch?v=0eqD5o6422M
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“Integrate Bank Services in customer’s everyday life” - LoyaltyNew loyalty schemes generation based on mobile payments and analysis of usage of m-services, habits, patterns, non banking activities, etc. Couponing capabilities also create an end2end experience.
iGuarantee Loyalty mBank Loyalty Mashreq Loyalty
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4. “Providing on the go user authentication”
Mobile Banking Services Trends
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“Provide on the go User authentication & security”
Biometrics, voice recognition, “light” login pins, allow for secure & convenient user authentication and easy access to frequently requested info
Touch idOTP GeneratorVoice Recognition 4 digit Pin
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5. “Going Phygital!”
Mobile Banking Services Trends
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“Go Phygital !” – In-Branch Assistance“Branch Assistant” for personalized service while in Bank Branches, interactive advisors, adding value services & remote check in to queuing system.
ING e-Branch
DenizBank Queuing System
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“Go Phygital !” – Augmented Reality
Augmented reality for physical location assistance (Branches, ATMs, Properties)
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Evolution & Strategy
Eurobank Mobile Banking Services
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Eurobank has been offering m-Banking services since 2000…
Feb 2000“Eurobank Wap 1.0”
-Banking Services- Remote Payments (bill payments)- Value Adding Services (branch/ATM locator, news)
Feb 2000“SMS Banking 1.0”
- Banking Services -(balances, latest movements for cards, accounts)- Intrabank transfers and card payments
March 2004“Eurobank iMode”
-Banking Services- Remote Payments (bill payments)- Value Adding Services (branch/ATM locator, news)
WAP WAP BANKINGBANKING
SMS BANKINGSMS BANKING iMode BANKINGiMode BANKING
Low adoption due to technology
constraints & poor user experience
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Eurobank mobile offering for Banking, Payments & Loyalty
Nov 2009“Eurobank app 2.0”
-Banking Services- Remote Payments (bill payments)- Value Adding Services (branch/ATM locator, tools, news, click2call)
May 2011“Livepay app”
- Remote Payments through Credit Card (bill payments, P2B payments)
March 2012“Epistrofi app”
- Loyalty Services - VAS (branch locator, special offers
January 2013“SMS Banking 2.0”
- Banking Services -(balances, latest movements for cards, accounts)
Higher adoption due to technology
capabilities & improved user
experience
Eurobank appEurobank app Livepay appLivepay app Epistrofi appEpistrofi app SMS BankingSMS Banking
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Engaging user experience pays off…
Over
250,000250,000 app Downloads !
Over
90,00090,000 customers have used “Eurobank app”
for their banking transactions !
8mil 8mil logins performed, &
350mil350mil €€ transferred via “Eurobank app”
!
Best mBest m‐‐Banking Banking app in Greece for 2014 & 2015!
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Eurobank Mobile Services Strategic Pillars
Single app strategy All Bank services in one place, easily accessible by the customer
Becoming Customers' 'everyday' tool to support all aspects of their life
Enhanced Security & user authentication Capitalize on the mobile in order to provide cross bank authentication mechanisms
Mobile First Services Design cross channel services considering the Mobile Experience first
Interconnection with 3rd party services Offer services from 3rd party organizations in order to provide integrated solutions &zinc reuse revenue and usage
The mobile as a Payment Medium Use various technologies & solutions in order to offer mobile payment capabilities to customers
Personalized Communication & Loyalty on the go Online communication based on various aspects of the user (location, profile, habits and based on this make offer)
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Payment Services• B2C remote payments
• G2C (e.g. ticketing)
• P2P (e.g. via emails, mobile numbers, Facebook)
•C2B (e-commerce)
Eurobank Mobile Services Strategy
Loyalty• Coupons, Offers, Loyalty programs
• Centralize bank's loyalty program
Banking Services• Real time account, card, loan information
•Online transfers and bill payments
•Transactions via apps, web or SMS
•Relationship management
Adding Value Services•One 2 one communication through
online chat, push notifications
•PFM services
mBan
king
Quick
ViewTapnP
ay
Pay a
Frien
d
(Faceb
ook)
Branc
h
Assist
ant
OTP
Gener
ator?Clic
k 2
Call
Building a new m-ecosystem being the central point of digital offering and defining bank's digital strategy
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Bill Gates, CEO Microsoft
“We always overestimate the change that will occur in the next two years and Underestimate the change that will occur in the next 10.
Don’t let yourself be lulled into inaction.”