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Mobile banking emerging trend
- 1. Mobile Technology Emerging Trends: Banking and Financial Services Presented at the Indian Business Chamber of Luxembourg Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. Vishal Jain Version 01a, 17 March 2010 1
- 2. Personal Banking as we know Source: www.cartoonstock.com Copyright Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 2
- 3. Mobile Managing your Money and More Stock tips, news feeds, balance alert Trade confirmation, portfolio enquiry 123 456 789 * 0# Transaction alert Bill reminder, pay bills, transfer funds Buy grocery, pay using your phone All body senses isee ihear Ismell itouch Italk Book your ticket, travel with a bar coded ticket on phone Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 3
- 4. Forecasts GSMA KPMG Juniper Research Frost & Sullivan 2012 2011 2014 2013 Mobile Money Market Mobile Money Transfer Market Mobile Money Transfer Market Mobile Money Market (Western Europe) $21 Billion $65 Billion €4-5 Billion $5+ Billion GSMA & EDC 2015 Gartner Juniper Research ABI Research 2011 2011 2015 Source: Edgar, Dunn & Company Mobile Wallets Mobile Payments Mobile Banking Mobile Commerce 1.4 Billion users 103.9 Million users 816 Million users 37 Billion transactions $119 Billion Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 4
- 5. The imperative Source: TowerGroup • • • • • • Source: ITU 960 million mobile subscribers in Europe Forrester - By 2014, nearly 40% of consumers in Western Europe will be tapping into the web via their mobile phone ITU - the number of mobile cellular subscriptions globally to reach five billion this year IDC - world's mobile worker population will pass the one billion mark this year and grow to nearly 1.2 billion people - more than a third of the world's workforce - by 2013 Eurostat – around 30% of women and 35% of men in the EU region used the internet banking (exception being Nordic, Lux and Estonia – 65%+ users) IMS Research - Smartphone shipment growth is expected to accelerate in the future at a CAGR of 24.5% between 2010 and 2015 Source: Eurostat, 2008 Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 5
- 6. So what is mobile technology in banking and financial services • Transactions & Queries • Account related requests • Portfolio Management • Fund Transfer • Card services • Statements • Quotes/Feed • ATM/Branch Search Banking Payments • P2P and P2M payments • Remittance • Mobile wallet transfers • Mobile airtime top-up • Utility Bill payments Commerce • Rail/Bus/Air Ticketing • Shopping • Movie/Match/Event Ticketing • Merchant payments • Loyalty coupons ---BANK--Are you sure you want to transfer USD 50 to Navin? Send TPIN to confirm Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 6
- 7. Why is mobile technology different Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 7
- 8. Does it stick together Mobile Application Platform Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 8
- 9. Are we ready Consumer Attention Affordable Data Plans Cross Industry Partnership Mature technology Tight Capital Monetisation on existing infrastructure Clarity of regulations AML/KYC Concerns Legacy Infrastructure Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 9
- 10. So who is doing what Device/ancillary Manufacturers Financial Network MVNO + Mobile Financial Services Retail Network Bank Network Telecom Network Independent Mobile Financial Services Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 10
- 11. Emerging Technology Landscape Banked ATM Mobile UI Branch Internet SMS ATM + Internet + Branch Mobile UI NFC SMS SMS Agents Agents Mobile UI SMS Unbanked Emerging Developed Focal touchpoint Secondary Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 11
- 12. Drivers for adoption • Speed • Affluence Banked • Usability • Convenience • Viability • Security • Cost of delivery • Security • Convenience • Cost of delivery Unbanked • Mainstream • Convenience • Cost of delivery Emerging Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. Developed 12
- 13. Zylog • Founded in 1995 • Listed in India (NSE/BSE) • Located in 13 countries and working with customers in 20 countries • Headquartered in Edison, NJ • USD 410 million (FY11) • Large Investors – Sundaram BNP Paribas, UTI Ventures • 50% of revenues from banking and telecom • Top 10 customers contribute 40% of revenue • 3600 Professionals • 150+ mobile computing team • ISO 9001 certified and SEICMMI Level 4/5 Standard Ranked 68 amongst the Top 500 Indian IT companies • First to demonstrate wireless solutions in the Middle East in 2000 • 10 years of experience in mobile deployment for banking and financial services • Bank.Companion – Zylog’s proprietary end to end mobile platform available in North America, Europe and Asia • Live in 40 Banks and Financial Institutions, 10+ government establishments, 10+ media houses, 20+ large enterprises, 10 telecom operators • Exclusive partner of Dubai e-government for Wireless Enabling of all the Government Departments in the UAE • Working with the top 3 banks in our installed markets • Around a million users are currently subscribed to our mobile platform Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 13
- 14. Thank You Contact Information Q&A Vishal Jain Regional Manager Banking & Financial Services vishalj@zsl.com +44 (0) 75 0732 9407 Global Headquarters 85 Lincoln Hwy Edison, New Jersey United States, 08820 Phone: 732-549-9770 Asia Pacific Headquarters #13-09 Ngee Ann City Tower B 391B Orchard Road Singapore 238874 Phone: +65 6238 1401 Europe Headquarters 271-273 King Street, II Floor London House, Hammersmith London W6 9LZ Phone: +44 (0) 20 8846 9922 Web: www.zylogsystems.co.uk Development Centre 155, Thiruvalluvar Salai Kumaran Nagar, Sholinganallur Chennai, India 600 119 Phone: +91 44 3915 7000 Copyright © 2009 Zylog SystemsCopyright © 2009 Zylog reserved. (EUROPE) Ltd. All rights Systems (EUROPE) Ltd. All rights reserved. 14
Notas do Editor
- How banks have changed over the yearsBranch bankingATMOnline bankingCall centerThe reasons for this have been cost, customer retention, customer satisfaction. Why they have not yet achieved all these so far is infrastructure, regulatory concerns, wrong way of understanding the customer, late technology adoption and general reluctance to their traditional way of working
- Anecdote of alert before filling the gas or maybe an alert that you have to fill the gas. Mobile will touch and every part of lives. It would be an extension to our senses.
- GSMA - estimates Mobile Money to be a $5+ Billion opportunity by 2012Frost & Sullivan – The mobile money market in Western Europe is forecast to increase to € 4-5 billion by 2013ABI Research – predicting that in 2015, $119bn worth of goods and services will be purchased via a mobile phone. In Japan, which has one of the most vibrant mobile markets, mobile commerce "exceeded $10 billion" in 2009Juniper Research - the number of consumers accessing banking services and products via their mobile phones will reach 816 million by 2011, a tenfold increase on the number using such services in 2007, Annual number of global mobile banking transactions will rise from 2.7 billion in 2007 to 37 billion by 2011, as a greater number of services are deployed worldwideKPMG - The global mobile money transfer market could grow to $21 billion by 2011Juniper Research – The international mobile money transfer market will be worth in excess of $65 billion by 2014 driven principally from migrant workers based in developed countriesGartner - mobile payment is a service at an early stage with an expected 32.9 million users worldwide in 2008, growing to 103.9 million users in 2011Edgar, Dunn & Company GSMA Research - mobile wallets are expected to be used by over 600 million people by 2011, rising to 1.4 billion in 2015M-commerce might leapfrog e-commerce in time to come. We are already seeing a lot of moves from retailers themselves. This includes a plain vanilla app store to integrating the whole back end store ordering process, to instore merchandise pricing to ordering them through the phone.A classic example is an app that allows you to prepare your store buy wishlist and than when you visit the store, it guides you on where those items are kept. By the time you check out it already builds the invoice and you can pay through your phone itself.In mobile payments the dominant method currently is SMS however with increasing adoption of NFC this will gain traction. Asia pac has taken mobile payments while US and EU already have established infrastructure however with new and emerging technologies and involvement of existing players this will gain adoption in US and EU as well
- Population, mobile penetration, mobile worker population
- Fairly experimented across the globe since last 10+ years. Now it covers a broad spectrum of all the personal financial services that are possible through other direct channels. Mobile phones using NFC have also enable mobile walletSome apps and add-ons are available for credit card paymentsBar code technology for coupons, tickets, shopping, vouchersAll sectors can be covered
- Unlike pc’s where the Windows OS and mac ruled the mobile landscape is littered with multiple platforms having their own advantages and disadvantages. This requires a mobile banking playerTo either target one specific user group develop compatible technology for all this kind of technology landscapeVarying operator standards, bandwidth, regulations etc
- Whether a platform can bring together all these set of services. Universality on both sides. Rapid changes in technology
- Infrastructure – why would somebody kill the golden gooseMature technology – security is mature enough and same as internet banking
- Banxafe, a service of the Belgian Banksys company plans on implementing payment by mobile. Banxafe works together with the big Belgian mobile operators (like Base, Mobistar and Proximus). This systems allows you to pay your coffee or even buy a car with a few simple taps on your mobile.All these infrastructure players are important for the success of mobile banking, payments and commerce strategy
- What demands what
- Local or global in scope, Zylog Systems Limited is your technology partner. We are ready to empower your company to emerge from economic challenges and evolve as an industry leader with reliable, caring, and experienced support professionals. Contact us right away to find out how we can apply our services to meet your needs.