frost & sullivan: 2013 global predictions for the financial services sector
TRANSCRIPT
ICT EuropeFinancial Services Predictions for 2013
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Key Perspectives on Growth for Financial Services in 2012
22
33
44
55Cloud-based solutions expanding faster than
NFC-based solutions in the m-payments
space
Cloud-based solutions expanding faster than
NFC-based solutions in the m-payments
space
11Mobile devices become the key customer
interaction channel
Mobile devices become the key customer
interaction channel
Source: Frost & Sullivan analysis.
Regulatory pressures force financial
institutions to rethink their strategies
Market participants increase efforts to ensure
interoperability and open environments
Online and offline payment differences
blurred
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Market Highlights
• The European mobile financial services is characterised by a relatively high uptake of m-banking services, an emergent adoption of m-payments, and long-term growth opportunities in international m-remittances.
• The European population is slowly but surely moving to prepaid, online, and contactless payments for small amounts. In Poland, the end-user adoption of NFC payments will increase from 4.9% in 2015 to 10.3% in 2018.
• The European market is evolving towards contactless payment card systems. Contactless cards growth will reach a CAGR (2011 to 2017) of 28.7%.
• By 2018, 38.0% of global mobile phone shipped will be NFC-enabled .
• With the massive adoption of smartphones in Europe, SMS and USSD will increasingly become less relevant. Among the countries covered in this study, smartphone penetration averaged 28.0% in 2011 (from 9.0% in Russia to 46.0% in the U.K.).
• The annualised average amount used for online sales (in France, Sweden, Poland, Germany, and the U.K.) by use of a smartphone will be around €171 in 2012. In Russia, growing Internet penetration will be an important driver, reaching a CAGR (2011 to 2018) of 6.4%. Online sales will have a CAGR (2011 to 2018) of 10.6%.
• The European mobile financial services is characterised by a relatively high uptake of m-banking services, an emergent adoption of m-payments, and long-term growth opportunities in international m-remittances.
• The European population is slowly but surely moving to prepaid, online, and contactless payments for small amounts. In Poland, the end-user adoption of NFC payments will increase from 4.9% in 2015 to 10.3% in 2018.
• The European market is evolving towards contactless payment card systems. Contactless cards growth will reach a CAGR (2011 to 2017) of 28.7%.
• By 2018, 38.0% of global mobile phone shipped will be NFC-enabled .
• With the massive adoption of smartphones in Europe, SMS and USSD will increasingly become less relevant. Among the countries covered in this study, smartphone penetration averaged 28.0% in 2011 (from 9.0% in Russia to 46.0% in the U.K.).
• The annualised average amount used for online sales (in France, Sweden, Poland, Germany, and the U.K.) by use of a smartphone will be around €171 in 2012. In Russia, growing Internet penetration will be an important driver, reaching a CAGR (2011 to 2018) of 6.4%. Online sales will have a CAGR (2011 to 2018) of 10.6%.
Key Market HighlightsKey Market Highlights
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Four Big Predictions for 2013
22Numerous commercial mobile payment offerings will be launched, but
mass adoption will only occur in 2014-2015
Numerous commercial mobile payment offerings will be launched, but
mass adoption will only occur in 2014-2015
33 Cloud computing will remain as a cost-efficiency driverCloud computing will remain as a cost-efficiency driver
11 Sharp and dramatic increase in contactless paymentsSharp and dramatic increase in contactless payments
Source: Frost & Sullivan analysis
44Social media and data analytics will gain stronger importance in the CIOs
agenda
Social media and data analytics will gain stronger importance in the CIOs
agenda
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Jean-Noel GeorgesGlobal Program Director
Financial Services
Adrian DrozdResearch Director
ICT Europe
Yiru ZhongTeam Leader
Energy/Utilities
Saverio RomeoTeam Leader
Public Sector