Mobile Banking: Financial Services Meet the Electronic Wallet

Banking and Big Data’s Unfulfilled Promise

(Video 1 of 11) 2:34

Financial institutions already collect a raft of data on customers. But it sits in silos and goes mostly unused. Will mobile banking spark a revolution?

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

Squeezing Value from Big Data – Watch Behaviors

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Rich digital, demographic information holds value. But past customer behavior is still the best judge of future behavior.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

Some Banks Are Leveraging Big Data Successfully

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Integrating active and passive data would add great value.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

Top Data Models — Tesco, Facebook, Amazon and eBay

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Lots of organizations collect digital information about customers. But only some have cracked the code for using it effectively.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

Advantage Banks – Riding the Mobile and GPS Waves

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Retailers, telecoms see everything a customer does — with them. Banks see everything customers do with everybody.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

If You Can Track It, You Can Monetize It

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GPS is only the latest advance enhancing customer outreach. New technologies will bring continual new opportunities.

Also posted in Banking: Future Growth Models, IT Investments, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

What Kind of Innovation Is the Right Kind?

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Innovation is necessary – but not enough – for effective customer targeting.

Also posted in Banking: Future Growth Models, IT Investments, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

How Will the Winners Win?

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Distributors have many advantages, but banks still maintain unique skills and competencies in the realm of banking.

Also posted in Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

How Will Banks Fare Against the Googles of the World?

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Don’t underestimate some advantages that financial institutions wield in the mobile battle for share, namely, expertise and customer relationships.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

How Much Profit Will Mobile’s Data Provide?

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There is big potential in leveraging all information sources. But banks have a long way to go.

Also posted in Banking: Future Growth Models, Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

Beware of ‘Simplistic Metrics’ and One-Size-Fits-All Thinking

(Video 11 of 11) 3:18

Banks must guard against “bad science” when working with mobile customer data. First, identify core customers. Then isolate their needs.

Also posted in Video 8: Mobile Banking and Big Data - Meeting the Promise |

Mobile Banking and Big Data – Meeting the Promise

(Full Video) 36:02

An important part of the promise of mobile banking is the rich customer data it generates. Most of this “big data” sits idle on servers because so many banks have yet to figure out how to mine it effectively. But some banks, particularly in emerging markets, have cracked the code. Banks can learn from their peers and can also look to companies in other industries, such as Amazon, Facebook and Tesco, for business models.

Also posted in Mobile Banking, Video 8: Mobile Banking and Big Data - Meeting the Promise |

For Mobile, the Possibilities Are Infinite

(Video 1) 2:27

Mobile phones offer banks their first high-impact new technology in decades. Yet, banks have been among the slowest to adopt.

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The New Mobile Hub for Banking

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Mobile phones will become a hub for many banking services. Already, developed markets have lessons to learn from emerging markets, where mobile banking is popular – and profitable.

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Solving the Asia Mobile Puzzle

(Video 3) 3:24

Some banks in Asia have been very successful on a local level with mobile banking. But can that be scaled to regional or global success?

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Mobile’s “Stickiness” Can Benefit Banks

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Mobile can strengthen customer retention. Customers won over to mobile tent to be more loyal, and they access mobile services frequently, says Citibank’s Tracey Weber.

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Mobile Slashes Transaction Costs

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Mobile offers the potential for new revenues and profits, but also for huge cost savings; It is 50 times cheaper than face-to-face and five times cheaper than ATM transactions.

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Wallets Go Digital – Mobile and Global – Carrying Virtually Everything

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The mobile wallet offers great convenience – and an opening for disruptive non-banks. It also offers great promise for data collection, notes John Sims, president of SAP mobile services.

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Financial Crimes Go Mobile

(Video 7) 2:20

Banks have strong measures to curb mobile banking fraud and money laundering, notably through transaction size limits. But customers will demand more flexibility, and banks must adapt.

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Consumer Concerns – First, “Do No Harm”

(Video 8) 2:45

New technologies have shake-out periods to work out safe practices. But as more is learned, security expectations grow. Avoid liability by thinking hard about how to protect consumers.

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