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Mobile Banking

23 November 2011


Douglas Blakey, Editor Retail Banker Interactive

Christo Vrey, Managing Executive of Digital Channels, ABSA

Chandrashekar Rao Kuthyar Senior Product Line Manager Finacle

Chandrashekar Rao Kuthyar Senior Product Line Manager Finacle

Mobile banking landscape : A customer perspective
Basic banking transactions such as balance inquiry, funds transfer Remote Payments Negligible interactivity and intelligence Customization Menu based complex user experience Security is a real concern Bulky physical wallet and mobile phone FUTURE Channel enrichment and multi-channel transactions Remote and contactless payments Mobile financial management and Social media integration Personalization Advanced and intuitive superior user experience Highly secure Digital wallet on mobile phone

Mobile banking landscape : A bank’s perspective
Independent mobile banking budget and strategy Channel focused services Vendor dependent service with little flexibility Generic marketing for all customer profiles Limited ecosystem enablement Basic security framework Ancient customer servicing and basic reporting Walled-garden approach to customer advisory FUTURE Unified sales, marketing budgets and strategies across channels Mobile enabled multi-channel services Enterprise wide platform for building and launching in-house apps Segmented and context sensitive marketing Out of box ecosystem support End to end security (AML/Fraud checks) Smart servicing & comprehensive reporting and analytics Holistic customer profile information leading to effective upsell/cross-sell

Next generation mobile banking: What will it look like ?

1 2 3 4

Channel enriched banking with seamless experience across channels. Technology agnostic through multiple devices/browsers/channels. Highly personalized & superior user experience with powerful targeted location-based offers & augmented reality. Multi-channel transactions such as cardless cash withdrawal.

5 Smart advisory services. 6 Proactive consumer servicing with comprehensive reporting & analytics. 7 8
Adaptive authentication, Smart Integration with cloud. Easy integration with banking & merchant ecosystem by partnering with best-of-breed players.

Checklist for next generation mobile banking strategy

Clearly defined objectives and strategy for channel transformation

Successful customer onboarding, inclusion & adoption through mobile

Scalability & enterprise wide flexibility

Available on all/preferred devices, browsers & channels Easy integration with existing systems

Context sensitive marketing for segmented customers


Interactivity & intelligence for informed financial management Smart servicing and analytics





Christo Vrey, Managing Executive of Digital Channels ABSA

Overview of ABSA mobile services
• • • • WAP-based mobile internet banking... rich interface, wide range of features WIG based (secure SMS) banking... quick, convenient Cellphone Banking Lite via USSD... available on any handset, simple to use value-added services, appeals to youth segment

Different delivery platforms allow us to offer choice and cater for varying needs, levels of sophistication, maturity, and handset capabilities

ABSA customers
• • • • Over three million registered for one or more mobile banking services 2011 sees a 65% YoY rise in transaction volumes Over R10 billion in transaction values this year Almost a billion SMSes sent to mobile devices this year... transaction
notifications, logon alerts, security codes, marketing etc


Variety of services and features
• • • •
• •

Account information – mini-statements, balance enquiries, request archived statements via email Payments – once-off, beneficiaries, bill payments Money transfer – CashSend (local), Western Union (international) Prepaid purchases – cellular airtime and electricity
Insure – prepaid funeral, life insurance Loans – end-to-end fulfilment, leads for larger loans, mortgages, credit card

Apply – for Savings products


Generating the awareness

• • • • •

200 dedicated digital sales promoters’ nationwide Touchscreen educational tools in branches Five million educational MMSes sent this year Regular campaigns, incentives, free airtime giveaways An organisational mindset shift... “transactional migration”


Where are we going? “Buy/pay anywhere for anything, anytime” ... Mobile (contactless) payments... Mobile virtual wallets

Bill Presentment and Payment

Online Shopping

Pay for Parking

Mobile Tickets Pay for Transport

Manage and receive discounts, vouchers and rewards Pay at the till

Christo Vrey, Managing Executive of Digital Channels ABSA

Chandrashekar Rao Kuthyar Senior Product Line Manager Finacle


Douglas Blakey, Editor Retail Banker Interactive

This webinar will be available for replay at Retail Banker Interactive from 24 November 2011

The next webinar in this series is on Thursday 15th December at 14:00 GMT and looks at innovation with BAI award winner La Caixa. Please register by following the links at the site.

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