The Business Case for Mobile Banking

Publisher Name :
Date: 11-Sep-2012
No. of pages: 134

Synopsis

• Mobile banking is an emerging new trend for both bankers and consumers. It has changed the traditional methods of banking and its usage has been improved not only in developed countries but also developing countries

• This report covers the usage of mobile banking in various countries across the globe

• This report provides data on mobile banking service penetration globally

• This report covers the technological advancements which enhance the mobile banking system

• The report provides information on key developments in developing markets such as China and India

Summary

The number of mobile phones in use around the world in 2011 reached six billion while the number of mobile banking users worldwide reached 300 million with adoption of the service in developed countries growing significantly. Mobile networks now cover between 85-90% of the world's population. Modern data and telecommunication services appeal to younger generations, meaning that they have a good perception of institutions that offer mobile financial services. Banks and mobile carriers are moving towards more sophisticated techniques of marketing as a result of security and user-friendly concerns. In order to enhance their marketing, banks and mobile carriers are using IT technology for ensuring security and user friendliness. Mobile banking is not only used for basic transactions of online banking, such as checking balances, viewing recent transactions, paying bills and transferring funds but also for marketing of the various products and services offered by banks.

Scope

• This report will allow you:

• To understand the future potential of mobile banking

• To understand its usage both in well developed countries and developing countries

• Gain insight into the key technology developments for electronic payments via mobile

• To analyze the mobile advertising market

Reasons To Buy

• Provides detailed analysis of mobile banking services globally

• Special emphasis on the opportunities available in emerging markets

• The report also focuses on various mobile payment technologies emerging in the global market

• Provides in-depth analysis of the challenges faced by the mobile banking system

Key Highlights

• Mobile banking is replacing branch approach banking.

• Mobile payments are replacing paper-based payments.

• Advertising on mobiles is replacing traditional electronic marketing.

• Use of mobiles has grown faster than broadband connections.

The Business Case for Mobile Banking

Table of Contents
1 Executive Summary
2 Introduction
2.1 Mobile Banking Defined
2.2 The Development of Mobile Banking
2.3 The Relationship between Banks and Mobile Carriers
2.4 Summary
3 The Business Case: Mobile Industry Growth Shaping New Scenarios for Mobile Banking
3.1 The New Frontier for Mobile Banking Services
3.2 The Global Penetration of Mobile Phone Subscriptions Doubled since 2000
3.3 Mobile Network Operations: The Latest Passenger on the Mobile Financial Services Express
3.4 Mobile Evolution to Amplify Internet Penetration: 3G Networks in 159 Countries
3.5 Mobile Handset Manufacturers: What is their Role in Mobile Financial Services?
3.6 Handset Producers and Banks: The Nokia Money Case
3.7 Mobile Operative Systems and Mobile Payments: The Google Checkout Case
3.8 Mobile Growth and the Technological Revolution: Opportunities for Mobile Banking and Payments
3.8.1 Developed economies
3.8.2 Emerging economies
3.9 Anytime and Anywhere: The Convenience of Mobile Financial Services for Consumers
3.1 What are the Key Features of Mobile Financial Services?
3.10.1 Ubiquity
3.10.2 Immediacy
3.10.3 Localization
3.10.4 Instant connectivity
3.10.5 Pro-active functionality
3.10.6 High security
3.11 What are the Advantages of Mobile Financial Services?
3.11.1 Context-specific services
3.11.2 Spontaneous decisions
3.12 Summary
4 Generating Revenue Through Value-Added Services
4.1 Leveraging the Unique Characteristics of the Mobile Channel
4.2 Mobile Banking Products
4.2.1 Basic transactions
4.2.2 SMS alerts
4.2.3 Mobile brokerage
4.2.4 Transaction authentications
4.2.5 Mobile remote cheque deposit
4.2.6 Mobile payments
4.2.7 Non-contactless mobile POS payments
4.2.8 Mobile content payments
4.2.9 Remittances
4.2.10 Instant SMS loans
4.2.11 Personal Financial Management
4.3 Summary
5 Enhancing Other Delivery Channels
5.1 Online Channel
5.2 ATM Channel
5.3 Call Centre and IVR Channel
5.4 Branch Channel
5.5 Cards
5.6 Summary
6 Marketing via the Mobile Channel
6.1 Advantages of Mobile Marketing
6.2 The Mobile Marketing Industry
6.3 Consumer Reaction to Mobile Marketing
6.4 The Role of Customer Permission
6.5 Regulatory Considerations
6.6 OCBC Bank Singapore - Integrating CRM into the Mobile Channel
6.7 Seven Mobile Marketing Campaigns
6.7.1 Citi - Interactive mobile advertisements in USA Today
6.7.2 HSBC UK - Bluetooth messages sent to people passing its branches
6.7.3 HSBC US - Text interactions in street performances
6.7.4 Barclays - SMS game for youth accounts
6.7.5 BBVA - Offering mobile downloads in CSR campaign
6.7.6 Banesto Bank - Mobile interactivity with in-branch digital signage
6.7.7 JP Morgan Chase - Text-to-win US Open tickets
6.8 Mobile Delivery of Merchant Coupons and Offers
6.8.1 Alternative payments providers combining marketing with payments
6.8.2 Banks linking promotions with mobile payments
6.8.3 Tyfone and Bank of Oswego - An early trial
6.8.4 Visa and Chase Bank mobile coupons
6.8.5 Firethorn Holdings
6.8.6 ClairMail's Free Money
6.9 Should Banks be Delivering Merchant Coupons and Offers?
6.1 Summary
7 Banking the Unbanked
7.1 The Unbanked Market
7.2 Mobile as a Distribution Channel
7.3 Mobile as a Gateway Product
7.4 Summary
8 Choosing a Technology Platform
8.1 Voice-Based Platforms
8.1.1 Call centre / interactive voice response
8.1.2 First Direct Video Banking
8.2 Message-based Platforms
8.2.1 SMS
8.2.2 USSD
8.2.3 MMS
8.2.4 Mobile email
8.2.5 Instant messaging
8.3 Browser-based Platforms
8.3.1 Yodlee
8.3.2 Accessing regular online banking on the mobile phone
8.4 Application-based Platforms
8.4.1 WAP versus app
8.4.2 Back-end integration
8.4.3 Customer support functionality
8.5 Summary
9 Security Considerations
9.1 User Authentication
9.1.1 Finding the balance between security and usability
9.1.2 Challenge questions
9.1.3 Two-factor authentication
9.1.4 Voice authentication
9.2 Encryption
9.3 Security of Device
9.4 MoPho Phishing
9.5 Viruses
9.6 Summary
10 Usability Considerations
10.1 Summary
11 Marketing Considerations
11.1 Phased Rollout is Better
11.2 Marketing for Brand Enhancement
11.3 The Importance of Consumer Education
11.4 Target Offerings to Specific Customer Segments
11.5 Summary
12 United States
12.1 The Relationship Between Banks and Carriers
12.2 Firethorn
12.3 mFoundry
12.4 ?Carrier Agnostic' Platforms
12.4.1 ClairMail/Monitise
12.4.2 MShift
12.4.3 Bank of America
12.5 Multiple Platforms
12.5.1 Wells Fargo
12.6 Future Developments
12.7 Summary
13 United Kingdom
13.1 The Mobile Banking Market
13.2 Monilink
13.3 First Direct
13.4 Barclays
13.5 Future Developments
13.6 Summary
14 Germany
14.1 The Mobile Banking Market
14.2 Mobile Banking Offerings
14.3 Deutsche Postbank
14.4 Future Developments
14.5 Summary
15 South Africa
15.1 The Mobile Banking Market
15.2 First National Bank
15.3 MTN Banking
15.4 Wizzit Bank
15.5 Future Developments
15.6 Summary
16 New Zealand
16.1 The Mobile Banking Market
16.2 National Bank of New Zealand
16.3 KIWIBANK
16.4 PSIS
16.5 Future Developments
16.6 Mobile Banking in Australia
16.7 Summary
17 Key Emerging Markets
17.1 China
17.2 India
17.3 Indonesia
17.4 Nigeria
17.5 Brazil
17.6 Summary
18 Glossary
19 Appendix
19.1 Methodology
19.2 Contact Us
19.3 About Timetric
19.4 Disclaimer

List of Tables
Table 1: Active Mobile Broadband Subscriptions by Region in 2010 and 2011
Table 2: Worldwide Mobile Device Sales and Market Shares, 2010-2011
Table 3: Global Mobile Handset Shipments and Market Shares, Q1 2012
Table 4: Merchant Fees for Processing Sales Through Google Checkout
Table 5: Effects of Mobile, Internet and Banking Infrastructures in Developed and Emerging Markets
Table 6: BRIC Mobile Connections and Penetration, 2011
Table 7: Business Models for Mobile Payments
Table 8: Mobile Advertising Revenue by Region, Worldwide, 2010-2015 (Millions of Dollars)
Table 9: Worldwide Mobile Device Sales to End Users by Vendor in Q4 2011 (Thousands of Units)
Table 10: Mobile Subscribers in China by Operator (March 2012)
Table 11: Telecom Subscribers in India

List of Figures
Figure 1: Screenshot of RaboMobiel Home Page
Figure 2: Mobile Banking Reached 100 Million Users in Four Years
Figure 3: Mobile Subscriptions per 100 Inhabitants
Figure 4: Internet Subscriptions per 100 Inhabitants
Figure 5: Mobile Cellular Subscriptions by Geographical Region (Millions)
Figure 6: Internet Subscriptions by Geographical Region (Millions)
Figure 7: Mobile Operative Systems Forecast Market Shares, 2011-2015
Figure 8: Opportunity Areas for Mobile Banking and Payments
Figure 9: Brand Association Map for Mobile Banking in the US
Figure 10: Most Common Online Banking Activities of US Consumers
Figure 11: Screenshot of E*TRADE Mobile Brokerage Home Page
Figure 12: Screenshot of Mitek Systems' Mobile Deposit Capture Home Page
Figure 13: Expected Growth in Number of NFC-enabled Phones
Figure 14: Octopus, Suica and Oyster Cards
Figure 15: Screenshot of Mobibucks Home Page
Figure 16: Screenshot of PayMate Home Page
Figure 17: Verrus Parking Sticker
Figure 18: Obopay Home Page
Figure 19: M-Pesa Marketing Poster
Figure 20: Screenshot of Smart Money Home Page
Figure 21: Screenshot of GCASH Home Page
Figure 22: Screenshot of ShopText Home Page
Figure 23: Screenshot of Mobot Home Page
Figure 24: Screenshot of Ferratum Home Page
Figure 25: Monitise Home Page
Figure 26: Blyk Home Page
Figure 27: OCBC Mobile Banking Home Page
Figure 28: Mocapay Home Page
Figure 29: Mobile Banking Technological Platforms
Figure 30: Main Reasons for Not Using Mobile Banking
Figure 31: Main Reasons for Not Using Mobile Payments
Figure 32: The Growth of Malware
Figure 33: Mobile Threats Motivated by Profit
Figure 34: Mobile Threats by Type
Figure 35: Kiwibank Home Page
Figure 36: Bank of America "Morris on Campus" Campaign
Figure 37: mFoundry Home Page
Figure 38: MShift Home Page
Figure 39: Bank of America Online Mobile Banking Demo
Figure 40: Wells Fargo Mobile Banking Home Page
Figure 41: First Direct Mobile Banking Home Page
Figure 42: Barclays Hello Money
Figure 43: Deutsche Bank Mobile Banking
Figure 44: FNB Mobile Banking Home page
Figure 45: MTN Banking Home Page
Figure 46: Wizzit Bank Home Page
Figure 47: New Zealand Mob Survey
Figure 48: National Bank Mobile Banking Home Page
Figure 49: Kiwibank Mobile Banking Online Demo
Figure 50: The Co-operative Bank Home Page
Figure 51: FlashMeCash Home Page

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