the big flip: mobile apps in financial services

The Big FlipMobility’s Impact on the Financial Services Market

The Big FlipMobility’s Impact on the Financial Services MarketJim Somers

Chief Marketing & Strategy Officer

Updated: October 2012

Jim SomersChief Marketing & Strategy Officer

Updated: October 2012

Twitter: @JimatAntennaTwitter: @JimatAntenna

2 © Copyright 2012 Antenna Software, Inc. All rights reserved.

Antenna helps enterprises build, run and manage their mobile applications and content.

➦ Enabling enterprises to eliminate risk, lower costs, and stay future-proofed from the constant changes happening in our increasingly mobile society.

What We DoWhat We Do

© Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.

Our ExperienceOur Experience

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4

““While While 21%21% of all of all Brits say they would pay Brits say they would pay bills via a mobile phone bills via a mobile phone ……

© 2011 Antenna Software | All content confidential

… … 46%46% of of iPhone iPhone users said they would.users said they would.””

I recently read that …I recently read that …

Source: “iPhone Users Keenest on Mobile Banking,” Mobey Forum News & Views, Sept. 2011

5© 2011 Antenna Software | All content confidential

They Like It!They Like It!

WhatWhat’’s With This s With This ‘‘Big FlipBig Flip’’ thing?thing?


Big FlipDef. a cultural reversal brought on by rapid consumer adoption of a disruptive technology.

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Flips Are Everywhere


Music Movies Publishing

8

Not to Digress … but


The Tower Records in my town is now a thrift shop!

REA

CH

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FUNCTION© 2011 Antenna Software | All content confidential

Apple: The Serial Flipper

Disrupt

Tra

nsf

orm

Disrupt

Tra

nsf

orm

Disrupt

Tra

nsf

orm

Disrupt?

Tra

nsf

orm

?


Proprietary and Confidential1010

• The iPod changed the media industry. The iPod changed the media industry.

• The iPhone ramped even faster.The iPhone ramped even faster.• The iPad leaves its The iPad leaves its ‘‘siblingssiblings’’ in the in the

dust.dust.

Source: Apple by way of Mary Meeker, Partner, Kleiner Perkins

What’s Next?


Proprietary and Confidential1111

Not An Apple Love Story


““It is not the strongest It is not the strongest of the species that of the species that survives, nor the most survives, nor the most intelligent that intelligent that survives. It is the one survives. It is the one that is the most that is the most adaptable to change.adaptable to change.””- Charles Darwin- Charles Darwin

12© Copyright 2011 Antenna Software, Inc. All rights reserved.

Adapt or PerishAdapt or Perish

no!no!


““Forrester Research found that Forrester Research found that 48 percent of information 48 percent of information workers buy smartphones for workers buy smartphones for work without considering what work without considering what their I.T. department their I.T. department supports.”supports.”

“More Offices Let Workers Choose Their Own Devices,” NY Times, 9/22/11


The IT Flipping PointThe IT Flipping Point

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• Standardized on 1 device platform• Extending data from behind firewall• Linear workflow for task based workers• Simple and straightforward UI/UX

SalesSalesServiceService

SuppoSupportrt

Controlled and Controlled and managed by ITmanaged by IT

Enterprise Enterprise Back Back endsends

Mobile 1.0Mobile 1.0

14MerchandisingMerchandising TravelersTravelersShoppersShoppers InvestorsInvestors

• Multiple device platforms• User, not corporate, device and carrier selection• Proliferation of third party apps • Multiple delivery channels & social networks

SalesSalesMarketingMarketingeCommerce eCommerce Mobile Mobile

ArchitectArchitect

Management Reacting to Consumer DemandManagement Reacting to Consumer Demand

The Device I WantThe Device I Want The Network I WantThe Network I Want The Apps I WantThe Apps I Want

Mobile 2.0


DEVICES ARE EVERYWHEREDEVICES ARE EVERYWHERE

Source: National Retail Federation, May 2010

Mobile phones outnumber credit cards and bank accounts.

Source: IDC, Worldwide MEAP Forecast, Sept. 2011

Nearly 1 billion smartphones to ship globally by 2015.

Source: Daily Infographic & http://en.wikipedia.org/wiki/Cattle

That’s like every cow on the planet getting a smartphone!



Source: World Population Foundation

Nearly half of the world’s pop-ulation is under the age of 25 …

Source: World Population Source: World Population FoundationFoundation

Using a diversity of mobile tech-nologies to stay connected.”

Source: Antenna 2011 Mobile Source: Antenna 2011 Mobile Banking Benchmark StudyBanking Benchmark Study

Driving the rapid uptake of mobile banking services in US & UK.



M-Payments will M-Payments will reach $670 reach $670 billion by 2015. billion by 2015.

(up from $170 billion in (up from $170 billion in 2011)2011)

Source: Juniper ResearchSource: Juniper Research

This is forecast This is forecast to grow over 6-to grow over 6-fold to nearly fold to nearly 490 million by 490 million by the end of the end of 2014.2014.

Source: Research & MarketsSource: Research & Markets

In 2009, there In 2009, there were 81 million were 81 million mobile payment mobile payment users users worldwide.worldwide.

Source: Research & MarketsSource: Research & Markets17© 2011 Antenna Software | All content confidential


Enough Already!Enough Already!

10,000+ mobile devices from

50+ manufacturers

1.5M mobile apps from more than 40

stores

1 in 3 mobile subscribers going

to social networks thru a mobile browser

OK … LetOK … Let’’s just build something s just build something quick and easy so we can get quick and easy so we can get something out the door. Who can something out the door. Who can do that?do that?



‘‘eTraded in his bankeTraded in his bank

““As an active trader, I'm completely As an active trader, I'm completely fed up with this app and I'll be fed up with this app and I'll be moving to another brokerage soon moving to another brokerage soon due to how poorly it works.due to how poorly it works.””


• ““After the update it won't accept my user ID.”

• “This app used to be so easy and helpful. Now it will not log in.”

• “Doesn't recognize ID and won't let you access accounts.”


How Rooted Are Your Apps?How Rooted Are Your Apps?

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New PoliciesNew Policies

New DevicesNew Devices

New UsersNew Users

Winds of Change are ConstantWinds of Change are ConstantWinds of Change are ConstantWinds of Change are Constant

DevelopmentDevelopment What happens when new devices are introduced into the mix?What happens when new devices are introduced into the mix?

IntegrationIntegration What happens when there are updates to the backend systems?What happens when there are updates to the backend systems?

ManagementManagement What happens when new users come on board or leave?What happens when new users come on board or leave?

CommunicationsCommunications Who do your users call if there is a network outage?Who do your users call if there is a network outage?

SecuritySecurity What happens when a device is lost or stolen?What happens when a device is lost or stolen?

Mobile Applications BedrockMobile Applications BedrockMobile Applications BedrockMobile Applications Bedrock


Mobile Banking Study Tells Us …Mobile Banking Study Tells Us …

• Room for Growth: 40% of respondents use mobile banking from their mobile device.

• Convenience is Key:

• 55% check their balance

• 43% view transaction history

• 36% use it to locate the nearest ATM

• Securing Trust: 69% of those surveyed said that security is biggest concern

• Web & Apps Neck & Neck: 16% use mobile website; 13% use mobile apps

• 2nd Gen: Large Banks are onto their next phase of mobile, realizing the app better be useful or you will lose customers and damage corporate image

• 2,015 adults in US who

access the internet on

their mobile phone,

smartphone, or tablet.

• Research done in May

2011.

• 2,015 adults in US who

access the internet on

their mobile phone,

smartphone, or tablet.

• Research done in May

2011.

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© Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.22

““Success for me is we have a mobile solution that permeates our Success for me is we have a mobile solution that permeates our organization and is unencumbered by licenses.organization and is unencumbered by licenses.””

-CTO, Wealth Management, Americas, Swiss BankCTO, Wealth Management, Americas, Swiss Bank

““Success for me is we have a mobile solution that permeates our Success for me is we have a mobile solution that permeates our organization and is unencumbered by licenses.organization and is unencumbered by licenses.””

-CTO, Wealth Management, Americas, Swiss BankCTO, Wealth Management, Americas, Swiss Bank

What We Hear …What We Hear …

““We have done a few one off projects both internally and with We have done a few one off projects both internally and with vendors and are looking to consolidate efforts into a coherent vendors and are looking to consolidate efforts into a coherent mobile strategy.mobile strategy.”” - -

-Managing Director, Web Portal Services, British BankManaging Director, Web Portal Services, British Bank

““We have done a few one off projects both internally and with We have done a few one off projects both internally and with vendors and are looking to consolidate efforts into a coherent vendors and are looking to consolidate efforts into a coherent mobile strategy.mobile strategy.”” - -

-Managing Director, Web Portal Services, British BankManaging Director, Web Portal Services, British Bank

““We decided to deploy a basic mobile banking capability using a We decided to deploy a basic mobile banking capability using a vendor to get to market quickly, but now realize we need a holistic vendor to get to market quickly, but now realize we need a holistic platform for our next gen offering.platform for our next gen offering.””

-Chief Information Officer, Midwestern BankChief Information Officer, Midwestern Bank

““We decided to deploy a basic mobile banking capability using a We decided to deploy a basic mobile banking capability using a vendor to get to market quickly, but now realize we need a holistic vendor to get to market quickly, but now realize we need a holistic platform for our next gen offering.platform for our next gen offering.””

-Chief Information Officer, Midwestern BankChief Information Officer, Midwestern Bank



Enable the Enable the ‘‘Real TimeReal Time’’ Bank Bank

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Employee Facing Customer Facing


Garanti, Turkey’s second largest bank, has over 250,000 customers using its mobile banking service each month:

• View their account

• Buy and sell on the stock exchange

• Transfer money, pay credit cards and reach market data

• The service has been so successful they are extending it to their small and medium sized business accounts.

“We wanted our mobile banking service to mimic the online site as much as possible so that users would be familiar with its operation. Our goal was to offer the broadest set of mobile banking services to Turkey’s mobile subscribers on the device of their choice. We have been extremely pleased with the results.”

“We wanted our mobile banking service to mimic the online site as much as possible so that users would be familiar with its operation. Our goal was to offer the broadest set of mobile banking services to Turkey’s mobile subscribers on the device of their choice. We have been extremely pleased with the results.”

Barbarous Uygun | Head of Delivery Channels, Garanti



ING DIRECT’S mobile app lets banking customer “put a branch in their pocket” and conduct their banking business on the go:

• Transfer money between accounts

• Pay people / bills on the fly

• P2P funds transfer

• Check account balances and transaction details

• Pay a friend by “bumping”

• One touch access to ING social sites



This app gives institutional clients the ability to interact with the full breadth of proprietary research content, including:

• Most/least preferred investments

• Equity & fixed income indices

• Personal portfolios

• Recommendations on individual securities, outlooks & forecasts

• Asset allocation strategies



The Value of the PlatformThe Value of the Platform

Development

• Fast time-to-market

• Cross device

• Common APIs, libraries and controls

• HTML5-ready

• Single code base

• Lower TCO

• Built-in MEAP capabilities

• Fast time-to-market

• Cross device

• Common APIs, libraries and controls

• HTML5-ready

• Single code base

• Lower TCO

• Built-in MEAP capabilities

ManagementManagement

• Mobile App Platform does 80% of the heavy lifting in managing your mobile deployments:

- Connectivity management

- Data integration

- Transaction assurance

- Security

- Analytics/BI

- Device Management

• It allows you to free up your IT resources for strategic projects and deliverables core to YOUR business.

• Keeps you agile, protected and relevant for the long term.

• Mobile App Platform does 80% of the heavy lifting in managing your mobile deployments:

- Connectivity management

- Data integration

- Transaction assurance

- Security

- Analytics/BI

- Device Management

• It allows you to free up your IT resources for strategic projects and deliverables core to YOUR business.

• Keeps you agile, protected and relevant for the long term.


➭ Your apps can only be as good as the platform that powers them.



Big Flip: Immutable TruthsBig Flip: Immutable Truths

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1. Are born by a desire to improve the experience

2. Occur from the bottom-up

3. Destroy the status quo

4. Cannot be throttled up/down

5. Are inherently good

6. Happen fast

7. Create new ecoystems

1. Are born by a desire to improve the experience

2. Occur from the bottom-up

3. Destroy the status quo

4. Cannot be throttled up/down

5. Are inherently good

6. Happen fast

7. Create new ecoystems


Thank YouThank YouTwitter: @JimatAntennaTwitter: @JimatAntenna

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the big flip: mobile apps in financial services

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