Mobile Payments & Mobile Banking - News, Stories and Trends 2017 - 2018

2017-2018 - Mobile Payments & Mobile Banking - New stories

In 2015, I wrote my latest blog about the ever-fascinating business stories about the disruptive impact of Mobile technology on Banks and other financial institutions.

The mobile banking and mobile payments ecosystem keeps fascinating by emerging technologies like Blockchain, AI, biometrics and many more.

So once more I am picking up where I never left off, blogging about trends, news, innovations and market movement of an continuous-disrupted industry.

Welcome to 2018 - The Top 10 trends of Digital Payments

It looks like another exciting years for a shift in mobile and payments strategies both in the BAnking and Retail industry. This infographic holds 10 real scenario's of new digital strategies regarding payments !! Happy New Digital Year !

Here is the Future of Banking, meet Erica

Bank of America is taken a great leap into the Digital future. Its the alter ego of Alexa however for banking. Meet Erica ! Its how personalisation in Banking writes a new chapter. It builds great new customer relationships. A bot is a great new tool to provide personal and private financial advice which is relevant and when it matters. This is also what I mean when I say AI is a mobile enabled technology. See new and great new digital experiences at this video.


The Power of Contactless ...Top 10 Things Brits want contactless

Touch and go transactions have gone a long way but now became the norm in the UK. I was lucky to be at the berth of the contactless payments era out of the Fintech established by Barclaycard and Orange. Tap and Go was UK's first...

Now its 2017 and here is what the Brits want to go contactless.. from tollroads to public toilets !


The Mobile Wallet Market is finally Maturing......

...but (in-store) Mobile Payments will grow slow till 2020s. My post in 2015 was about the to be expected disruption of ApplePay and AndroidPay. Both have now been introduced in North-America. After Apple Pay in 2016, Android Pay followed this year.

In the US major banks are linking into Google's mobile payment's service. In Canada most banks quickly introduced Android Pay for their customers except TD and RBC, read here why....

Consumer Adoption is the Problem for Mobile Payments

According to the Mobile Payments Report, customer adoption and fully implementing the necessary infrastructure keeps on hampering mobile payments to take off. And all parties, mostly the traditional ones, in the much fragmented ecosystem are to blame. Consumers are willing to adopt however only when mobile payments integrate with other mobile wallet applications such as loyalty. As one article reports, quoting various experts and industry reports, retailers are not fast enough to integrate the various payments experiences especially in-store.

This is for all nationwide payment systems in North-America and Europe and banks small and big have a role to play as well...read more here

While Banks and Retailers missing out on the opportunities, the sunny side is up for Fintechs:

Open Banking - The New way of Banking

Mobile technology once more redefines Banking. As Capgemini's World Retail Banking's report 2017 recently reported, Fintechs are taking over the Banking Industry. Not only with Apps but now APIs will be the succes factor for traditional banks to stay in business.

Some of the most striking outcomes of the report:

Fintechs delivers globally a more positive (mobile) customer experience than traditional banks (40% vs 37%). More striking is ow Fintech products are being adopted by tech savvy users (42%) and Millenials (37%) vs traditional banks only 18% and 22% respectively. Read more about the report here or watch below video.....

Next Generation of Mobile Banking II

Next Generation of Mobile Banking…Part 2

Last year January in collaboration with Forrester we published a report regarding the Next generation of mobile banking. That was from a more technology perspective. Lets have a look what the next generation of mobile banking app should bring in 2014!

Australian Bank CommBank recently promoted their latest mobile banking app via their own blog. 

Did they got it all right for 2014 ?

Why Commbank ? Are they setting the norm ?

I have been fortunate, when I was responsible for global mobile banking efforts @ Capgemini, to work across the globe gaining insights how banks in all regions stepping into mobile space.

I must say when I worked for National Australian Bank (2012), Commbank already had a leap forward regarding the mobile banking. Although Westpac, staying nice in their slipstream, recently being the first bank bringing mobile banking functionality to the new hardware, wearables, smartwatches.

In 2013 Commbank customers responded to the awesome mobile banking experiences by bringing more than 1 billion of transfers in less than a year.

Mobile Banking 2.0

So looking at the top 5 functionality for 2014.

1. Contactless Payments

2. QR Bill Payments

3. Social Banking

4. Quick Balance Check

5. oeps......

again they create excitement…until I arrived at number 5 (ATM & Branch Locator).

Some regions are divesting into their branch channel bringing cost of banking down, also in favor of  customer fees. In these regions more than 80% of banking services can be done online and/or via mobile.

The customers are ready; having their devices in their pockets 24x7. Lots of banks are not ready though but try keeping their customers ‘satisfied’ by having branches open between 9-6pm ?!!

For cash-out at ATM one may argue there is a more universal need however I would have expect some more exciting add-on mobile experiences. Same like the balance check, which at the Commbank, just sits one swipe away from your mobile homescreen.

Mobile devices could come in very handy to battle out the fraud scams at ATM machines, simply by providing a push notification on every ATM visit. Add the account balance and we are good. Overall it provides more security and at the same time making ATM receipts obsolete.

A hidden strategic mobile objective: Increase Your Customer Service

For 2014, I strongly recommend to stretch mobile banking to a more unknown, major strategic objective:

Increase your customer service by using mobile CRM tools to improve customer experience and thus increase your customer service. More over it also allows your bank to cut costs dramatically. 

Say no to software, Create experience

I am not talking about Salesforce apps here !

Citi got it already better by pulling in their twitter feeds into their app.

The best example I have seen is sitting in the French app of Groupama. Here you are not waiting impatiently until you get served whilst listening to unfavored music tunes. Instead it has a friendly, service menu with great experience. It also reduces customers ‘waiting time’ and giving them options by using different contact points from the mobile device; like a mobile website, a youtube video or setting your alarm once an agent is available to chat or talk.

Lets see which banks (and other industries ?) in 2014 will challenge the Australian Banks. Just remember, building great mobile experiences is every manager’s challenge for the next 5-10 years (says Forrester…) !!

Mobile Banking News, Facts Q4 2011 Q1 2012

Q4 - 2012 Posts

Ignore the Dinosaurs.... learn from Apple and Google

I came across another interesting term. 'Distribution Disruptor'. Being around in mobile banking and mobile payments, adding mobile as just another channel is not the way to go. For those who have read my other blogs know that mobile as defined by Apple and Google are distribution disruptors and banks as an industry are prone to this similar as the book and music industry.

Interesting if you read three blogs from three experts working and coming from different background, you cross-analyse them  and you similar warning signals.

A blog on how to make NFC mainstream shows that Google (wallet) and Apple (passbook) are mastering the user experience. It also helps if you are device manufacturer.

And another blog shows that by just replicating Banks will not win in the mobile money domain. Other dinosaur like MNO's are not used to open, collaborative working environments which will not lead to innovation and mass adoption either.

And the third blog shows why smaller banks (compared with the large banks with large 'brick channels') and credit union are better (and even the consumer perception is already like this) in new technology adoption and creating remote access to customers.

 If you count it all up the successformula for innovation on mobile money is: Convenience+UX (app)+Device ?? Something what Apple and Google already practice...succesfully.

Q3 - 2012 Posts

From the NFC Field II: Working on Mobile Wallet.... choking models

Earlier this month Barclaycard and Orange finally made it to Android-their mobile wallet services launched first in the UK late 2011 on 2 Samsung phones (Bada) is now available on the much popular Samsung S3. So WE did it. Expanding the service. Can I say 'WE', ofcourse since I was a proud member of the team. From the other side there is also a critical note which must sound so familiar to Google and its Google Wallet: they cannot get it out there (in the Western world at least) into a Multi-device and Multi-OS environment. Much to the frustration of those organisations who dare to make our lives (in which paying for goods and services take an important part) easier. As for Google managed to expand multi-device they face also many challenges since they are single-OS (Android) only. Putting faith of NFC mobile payments in the hands of mobile providers, I strongly discourage such a strategy. I have seen what goes wrong.

 In a mobile world where rules and industries are being reset by Apple, there is still much to gain by other mobile platforms and device manufacturers however since Apple let us down again by not putting NFC in its iPhone 5.

Meantime I know that it will be hard for the current mobile wallet model in the UK. The Olympics werenot a NFC payment success even though Lloijds and Visa were investing millions and trying to gain public interest but mobile and thus also mobile payments doesnot grow in a closed environment and you try to lock out other consumers. It will take long time before they finally create a critical mass and mass consumer adoption despite strategic hopes. it is not a lack of devices with NFC, it is not the consumer who donot want, it is the model which have been created. It will choke further expansion...let see if I am gonna be wrong.

 

Q2 - 2012 Posts

Corporate Appstores, MDM and Multi-development platforms, the road for companies to Enterprise Mobility

Last month I was invited by Gartner in Paris to be addressed on a new variant of their Magic Quadrant. Although I donot fully underline Gartner’s ranking systems, it still is one of the leading research matrices, companies use to select solutions in mobile (B2C. B2B) and mobility (B2E)

Most interesting is how the set of quadrants in the mobile technology space is expanding. After the consumer world , mobile technology is now getting its feet into the enterprise world. IT will need to extend roadmaps into new area’s like corporate appstores and  MDM (multi device management) which often includes security .

All new phenomena were business is going to deal with in the coming years, probably even more than ‘IT consumerism’.  So after IT consumerism which causes a paradigm shift for traditional IT we get to focus on ‘IT employeesm’. 

At Capgemini we are making also further steps, not only with the ‘obvious’ but also with the ‘to be expected’.  As mentioned in my earlier blogs, Apple is  also a major player in Enterprise mobility and therefore we are working with Apple in the EMEA region. It’s an outsider but ready to punch old-enterprise IT schools like SAP.

Most critics donot believe this since Apple is consumer market oriented only and Steve Jobs said two years ago he doesnot believe in enterprise, however at Apple they know better and there is more legacy on enterprise than critics may think !!

Other critics may think that working with Apple is a bet on a single horse. Most of them are the same who still take on the battle of HTML5-native or iOS vs Android. Waste of time,  I rather reason from a Platform point of view.

Apple has created an enormous ecosystem for  apps and devices. They have more market share in tablet  than in smartphones. PC is just a milkcow, maximum. Employees bringing their own device. They provide high-class security and your own appstore services leveraging their Appstore assets. When you count it all up, what does it tell you.

Now lots of companies and IT donot want to make the mistake for choosing iOS. However if you integrate with a MDM solutions (see Gartner) and a multi-platform development tool (see also Gartner) you engineer yourself into a future-proof digital age.

Q1- 2012 Posts

Another First mover Win for Barclays in Mobile Payments

As wrote in my blog earlier it is great to work at the forefront of mobile payments at least in Europe and see how the digital payments space is taken shape. Earlier in 2011 Barclaycard launched NFC payments with Orange. After Google Wallet, the first in NA and Europe which actually made it happen

With Apple to Enterprise Mobility. A much broader view to Mobile banking

Our collaboration with Apple is a great new road and emphasising the need to revolutionize business models.The business model to pursue I call the App-led business model. Still I find most IT executives underestimating the transformation they are facing. If industries like the music industry and telecom have been redefined by Apple, why wait as an organisation to take action now. The main impact in organisation of the App-led business model will be on IT, Marketing and CRM. Strategically this means organisation will have to look from a total new vision (outside-in) and new architectures. Forrester calls it the App-internet structure. So Strategy need to follow structure. In the FS industry there is already a great Best Practice at Standard Chartered. It is gonna an interesting year again for Mobility. Hopefully most organisations wake-up ontime to look at Apple how they did it and are now the highest values Organisation in the world....and still growing.

From the Field : Working on Mobile Payment...Fascinating Battle

Working in the UK on mobile payments is absolutely a great new experience in mobile space, especially since it is all about making it happen in a great 'just do it' ....culture. Being inside a leader and seeing all the first mover advantages unfolding and making fast great new strategic steps is very valuable. This FI broke the rules, thinks different and show guts and commitment. In US the ISIS program seems like becoming a long road to actual launch. Same in Netherlands where the SixPack consortium is now looking at a 2013 launch date. That is very long in an environment where the pace is incredible fast. Meanwhile The Mobile /Digital Payment Battle is on in the UK with the Olympic Games ahead and Paypal as the one to beat. But aren't they too conservative and underestimating........!?

November - December 2011 Posts

Capgemini Financial Service presents  its view on the Digital world for Swedish Financial Institutes

The leaders in Swedish computer media (Computer Sweden) organised on 16th November their annual Bank 2.0 conference. Inviting leaders and solution providers of the digital world. Capgemini presented their view on how digital channels impact strategy, architecture and organisation of Financial Institutions.

By clicking on the agenda (slot 11.35am) you will find Capgmini's view on Bank 2.0 !

September - Oktober 2011 Posts


First Mover advantages do work, also in mobile


A scorecard recently introduced to rate the best banks on mobile banking showed Wells Fargo as the number one ranked. The same bank who came as the first bank with a mobile banking app at the Iphone.
I guess 4 years later the have been able to turn the first move in a major benefit !


Forrester , Gartner and now Tower group mention all Kony as a major play in  mobile platform solutions


Within four months three research firms reported positive on this mobile platform provider. Especialy interesting for management in airline and Financial Service industry.


Latest presentation on the role of Mobile in Digital Transformation


The role of mobile as main driver in digital transformations is imminent. Last week in Nice, Capgemini presented both on the NFC World Congress on Mobile Payments (Deborah Baxley) and myself (michel van den Berg) on mobile at the Smart Mobility conference. You can find the presentation at slideshare.


 

Tablets, another wake-up call for CIO's

Tablets, another wake-up call for CIO's

Mobile Banking - News June-May-April-March 2011

June 2011 Posts


Capgemini & HSBC build mobile platform. 1st app HSBC Business Banking launched


HSBC UK launched three weeks ago their first mobile app for business banking customers. The launch is not just about the App for their long-waiting consumers but also a milestone in HSBC's mobile strategy.


While the outdated monetise framework will be left by most UK Banks, HSBC UK is one of the first who comes with a new business model towards mobile banking. Capgemini's experience and innovation in mobile banking is leveraged at HSBC mobile strategy however will not be visible at first instance. Meanwhile more importantly is that just after some weeks the business banking app downloads move towards 100k already. Over a 2/3 of customers are satisfied and active usage is already in the double digits !


Gartners shows where the IT money is Spend in 2011


Gartner updated its reporting on IT spend early this year into a new report last April. Findings shows that IT spend are now almost all on mobile.


Best tactics to build amazing and smart mobile banking apps


Lots of Banks are asking not only what's the best mobile strategy but also on how to built that differentiating mobile app !? On tactics as for mobile strategy it is has an IT and Business face.

Couldnot agree more with the 3 tactics as mentioned in this article


Enterprise App Stores, a next step for CIO to look out for

The appled model is moving forward in IT organisations-Since business apps are now joining the consumer apps, IT is looking for ways to integrate the appled model in their current IT infrastructures. Apple provides already an Enterprise App store for iOS apps. In this article you can learn what are the benefits to look into cross-platform Enterprise App store solution

May 2011 Posts


Call for Integration of digital channels by executive bankers at Asian SummitAn interesting angle coming from a report of the Asian Banker Summit this month and the glorious impact of mobile banking. Having similar conversations with executives in the West and East, I certainly recognize the confusion as described among bankers. With consumer uptake of mobile banking going through the roof, banks have a high (IT) need of an integrated approach to the internet channels (Web, Mobile, Social Networks)
… read more

New innovation in Mobile Banking from industry leaders in the digital age
Bank of America was leading the pack in developing mobile banking apps for all Mobile OS platforms. They just finalised their apps and it's good to see mobile UI evolving. Look here on what BofA announced last week ! Interesting detail is they announced in the same week closure of 43 branches !
Also new innovations in apps using the scanning mechanisms of smart phones. In order to ease bill payment OCBC introduced scanning for bill payment.
Last but not least also announcement of our 'own' Dutch Rabobank. The Dutch version of paper invoice/bill payment has conveyed into the Iphone app. Another interesting detail , Capgemini already introduced this on their Ibank prototype, one year ago !!

Banks are choosing to develop apps and prefer Iphone first
Another research on mobile banking reveals banking execs preferences. No surprises from own experience.....read more


April 2011 Posts


Mobile banking is booming and is the winner in the battle of the Channels

New data form comScore shows that mobile banking is increasing it's usage number again. Although (in US) still a 50% of users use financial service through PC, mobile banking is already at a staggering 26%. Only 10% visit the bank and 4% using voice calls.




Nearly as interesting is the large consumer adoption of tablet and smartphone apps vs. a more mild growth of mobile websites. Read here how many milllions of US consumers have embraced the app model to interact with their bank.
Tablets, another wake-up call for CIO's

The CTO of Capgemini shares is view on the tablet and smartphone market. Correctly he writes it is not only about Hardware but also about software which turns around the world of CIO's, read more...

How Banks can use the Ipad Smartly

If you wonder how to create smartly apps for the tablet device, here is a 'King'-advice from Brett King himself. So excellent opportunities to innovate services for the HNWI segment.. Read more....


March 2011 Posts


A Delay for Mobile Payments ?

Apple announced it will not equip their Iphone with NFC technology. I think that it is a major setback also for the development of mobile payments. It is interesting to read why Apple decided to postpone adoption of NFC. Already for years Mobile payments are said to take off however my view was always that for the same reasons Apple is abandoning NFC, this technology still needs further standardization. It showed already in the many PoC's we did in Europe. As soon as Apple is ready and Iphone has NFC, Mobile Payments are there to fly !! read on why Apple made this decision....

USAA Bank takes another innovative step in Mobile Banking

Recently USAA Bank introduced a new concept of banking by introducing a new App for the Ipad device. Earlier in 2010, USAA Bank mobile banking app stood as example on how a bank can add value to its customers by easing the way for check deposits. For countries where checks are still an important means of payment the app delivers many efficiency benefits for customers and banks. Now their Ipad app is showcasing again new ways of making smart use of mobile devices. See the app and get inspired

Tablets will change banking forever

Led by Apple’s iPad, tablet computing is on an obvious growth trajectory, but how should banks and other financial institutions act on this trend? Read Analyst article

Mobile is key component of Multichannel loyalty strategy

Walgreens is seeing much success in using mobile as a means of driving loyalty among its customers by providing choice, control and convenience via the channel.Read more

Western Union introduces Mobile FX payment services to its customers

As I see with more of my clients is that providing mobile services to business banking customers is a hot topic. Western Union acted already on this trend and lets SME customers make payments via their smartphones.Read the article

Brett King speaks about Mobile Money

The author of bank 2.0 was interviewed based on the market introduction of one of the first mobile payment app on Android. Brett King gives his views on what it means for the banking industry. What Brett King has to say..

Mobile Strategy: Integrating or Standalone Apps

More banks are struggling on a long term view on development of the mobile channel. Although an integrated banking app can be developed by choosing a hybrid style, there are also banks who just build standalone apps solely for one specific functionality. Banks have more and more reasons to develop a strategy to build on integrated and standalone apps. Solutions are now around to make this still an efficient exercise. Read what some banks are deciding..

TD Banks Caters Blackberry Mobile Banking app

Recently TD finally offers a mobile banking app for its customer. After launching apps for Iphone and Android in august 2010, this next mobile banking launch was a logic one. Research In Motion being just around the corner in the Greater Toronto Area and having a faithfull Canadian customer base using blackberries, TD Bank will add again value to its customers. Find out more what the app offers

HANA Bank is still leading the mobile banking innovation

Where-ever Mobile Banking brings me, Hana Bank is always popping up as the bank having a very innovative approach to mobile banking. The tokyo-based bank is highly effective and big in South Korea. Read here what Celent report on this Bank's innovative mobile channel