mcommerce and mobile banking: the evolution and opportunities
DESCRIPTION
This webinar/slidecast provides insight on mobile commerce (mCommerce) and specifically mobile banking, which is a large component of this industry. Learn how various financial institutions approach their growing mobile strategy, as well as how the growth of mobile commerce and banking affects consumers and changes the way people use mobile. Michael also shares his 4-phase approach to mobile banking; providing the technology options, functional capabilities and benefits for each.TRANSCRIPT
The material contained in this document is proprietary and confidential to Molecular. Copies are made available on the basis that use is limited to the sole purpose of evaluating the Molecular services. It is not permissible to use, modify, copy or disclose any information contained herein for any other purpose without the express written permission of Molecular. If you are not the intended recipient of this material you are requested to take immediate steps to destroy it.
Michael ShpigelSenior Technical ConsultantMolecularJanuary 2009
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar2
What is Mobile Commerce?
"Mobile Commerce is any
transaction, involving the
transfer of ownership or rights
to use goods and services,
which is initiated and/or
completed by using mobile
access to computer-mediated
networks with the help of an
electronic device."
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar3
Rise of m-Commerce
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar4
M-Commerce in Action
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar5
Growth of Mobile Banking
Mobile Banking Today
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar7
Banks adding mobile services
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar8
Mobile Banking Approach
Past Present Future
Bank A
Bank B
• SMS Alerts
• SMS Alerts
• WAP
• SMS Alerts
• SMS Alerts
• WAP• Rich client
• SMS Alerts• WAP and rich client
• SMS Alerts• WAP and rich client• Mobile payments,
mobile wallet, P2P
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar9
Successful mobile banking implementation
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar10
Phase 1 – Addressing the Mobile Channel
Strategy: Create consumer awareness
Implementation: Simple alert/notification SMS push
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar11
Phase 2 – Cost savings from the Mobile Channel
Strategy: Create consumer interaction
Implementation: Simple interactive services
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar12
Phase 3 – Innovative fee based services
Strategy: Create interactive services with value
Implementation: Complex services
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar13
Phase 4 – Mobile Financial Services
Strategy: Create broader mobile commerce application
Implementation: Advanced services
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar14
Four Phases of Mobile Banking
Future
Alerts and Notifications, push SMS
Simple Interactive Banking• Balance• Statements
Messaging Services
Alerts Engine
Silo platforms for SMS, WAP and Rich Client
Unified mBanking Platform
Value added interactive mBanking• Funds Transfer• Bill Pay• 2FA
mBanking platform for quickly launching innovative services
mPayments• MicroPayments• P2P• Remmitance• NFC
mCommerce platform with Mobile Wallet
Addressing Mobile Channel Cost savings from Mobile Innovative fee-based services
Mobile financial services
Fu
nct
ion
al
Ca
pa
bili
ties
Tech
no
log
y C
ho
ice
s
Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar15
Time with CustomersReach your customers 99% of the time they are not in your branch or in front of their computer.
Mobile Devices are where the physical world and online world converge.