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Mobile Banking and Payments

Published By :

Timetric

Published Date : Sep 2012

Category :

Banking

No. of Pages : 95 Pages


Synopsis

This report addresses the following key points:

  • The mobile banking phenomenon explained
  • Trends among emerging and developed markets
  • Mobile banking and mobile payments defined
  • Importance of mobile as a marketing tool and as a customer retention strategy
  • Mobile banking case studies

Summary

At the beginning of 2011, 30% of mobile phone users in developed markets used a mobile banking service on their mobile phones at least once. By 2015 however, a number of forecasts expect at least 50% of US mobile users to be conducting transactions from their mobile devices, doubling the 25% utilization rate in 2011. Despite the success of mobile banking apps, the future of mobile banking is likely to be dominated by browser-based solutions, due to the convergence of PC-based and mobile internet. The mobile financial service adoption by consumers will grow significantly during the next few years, exceeding the use of online banking by 2015. By offering mobile financial services, banks can reasonably expect to increase their sales by as much as 60%, while research has shown that implementation of such technology can reduce the cost of acquiring a new customer by 20% due to the increased effectiveness of mobile-related customer acquisition marketing.

Scope

This report will allow you to:

  • Analyze the growth of the overall mobile industry 
  • Understand the role of technological development in the growth of mobile banking 
  • Gain insight into the technology and infrastructure supporting electronic payments
  • Understand how banks are using mobile banking to beat the competition
  • Examine the key features of mobile financial services

Reasons To Buy
  • Assess the prospects for mobile banking and payments
  • Find out how additional revenue can be raised through value added services
  • Review the strategic and operational issues in the mobile banking sector
  • Study the profiles of leading banks within the mobile banking arena

Key Highlights
  • Banks in developed markets should sharpen their marketing so that customers have a better understanding of the added value of mobile banking services. 
  • Mobile banking needs to be part of a multi-channel strategy able to increase customer acquisition and loyalty rates.
  • There are potential channel savings to be made, but above all there is an opportunity for banks to increase sales through new value-added services.
  • Younger generations seem to be fascinated by modern data and telecommunication services and have a good perception of institutions that offer mobile financial services.
Table of Content

1 EXECUTIVE SUMMARY

2 MOBILE INDUSTRY GROWTH IS SHAPING NEW SCENARIOS FOR MOBILE BANKING AND PAYMENTS

2.1. The new frontier for mobile banking services
2.2. The global penetration of mobile phone subscriptions has doubled since 2000
2.3. Mobile network operators: the new entrants into mobile financial services
2.4. Mobile evolution expected to increase internet penetration: 3G networks in 159 countries in 2011
2.5. Mobile handset manufacturers: What is their role in mobile financial services?
2.5.1. Handset producers and banks: The Nokia Money case
2.5.2. Mobile operating systems and mobile payments: The Google Checkout case
2.6. Mobile growth and the technological revolution: opportunities for mobile banking and payments
2.6.1. Developed economies
2.6.2. Emerging economies
2.6.3. Anytime and anywhere: The convenience of mobile financial services for consumers
2.7. What are the key features of mobile financial services?
2.7.1. Ubiquity
2.7.2. Immediacy
2.7.3. Localization
2.7.4. Instant connectivity
2.7.5. Proactive functionality
2.7.6. High security
2.8. What are the advantages of mobile financial services?
2.8.1. Context-specific services
2.8.2. Spontaneous decisions

3 THE EVOLUTION OF MOBILE BANKING
3.1. Mobile banking on the rise: 185 million active users in 2011 and 550 million projected in 2016
3.2. Mobile banking: The 24-hour bank
3.2.1. Mobile accounting:
3.2.2. Mobile brokerage
3.2.3. Mobile financial information
3.3. The quest for supremacy: Technological platforms for mobile banking
3.3.1. Message-based banking (SMS)
3.3.2. Browser-based banking (WAP)
3.3.3. Application-based banking (APP)
3.4. What are the future platforms for mobile banking?
3.4.1. Key findings

4 MOBILE BANKING IN DEVELOPING COUNTRIES
4.1. Mobile banking: unlocking the door to basic financial services
4.2. The 'mobile money' opportunity: 2 billion unbanked mobile subscribers in 2012
4.3. Money in the bank: the savings that arise from mobile money for banks and consumers
4.4. How do the unbanked use mobile money?
4.5. Case studies in South Africa
4.5.1. A successful bank-led model: The Wizzit Bank case
4.5.2. Transact account launched to target unbanked: ABSA Bank
4.5.3. A successful mobile operator-led model: M-Pesa
4.6. Mobile expected to stimulate P2P payments in Latin America
4.6.1. DineroMail and MercadoPago
4.6.2. Person to Person (P2P)
4.6.3. Email billing
4.6.4. Online bill payments
4.6.5. Mobile transfers
4.6.6. Key Latin American P2P service launches
4.7. Driving market opportunities: remittances, savings and payments
4.8. The international and domestic remittances market opportunity
4.9. Savings and payment opportunities
4.9.1. Savings and loans repayments
4.9.2. Bill payments
4.9.3. Government and commercial payments
4.10. Key regulatory factors affecting the mobile banking opportunity
4.10.1. Cash in/cash out
4.10.2. Know Your Customer (KYC)
4.10.3. E-banking
4.11. How to conquer emerging markets: strategic considerations

5 MOBILE BANKING IN DEVELOPED COUNTRIES
5.1. Channel extension and value-added services expected to improve customer satisfaction
5.2. The cost structure of mobile banking
5.3. What's in it for me? The value of mobile banking to the banks
5.3.1. Pricing mobile banking
5.4. Training your sights: Identifying the target segment for mobile financial services
5.5. The choice of a new generation: how to target Generation Y
5.5.1. Preference management
5.5.2. Security and usability
5.5.3. Personal financial management (PFM)
5.5.4. A successful targeting strategy for Generation Y: the Sun National Bank case
5.6. How to implement a successful mobile banking strategy
5.6.1. Integration
5.6.2. A triple-play solution
5.6.3. Adaptable and extended functionality
5.6.4. Bank-centric
5.6.5. Proven for premium services
5.6.6. Flexible enrolment
5.7. A well implemented mobile banking strategy: Unicredit and La Caixa
5.8. Mobile Banking Case Studies: TowerGroup
5.8.1. Middle East and Africa Region
5.8.2. Western and European Region

6 SECURITY OF MOBILE BANKING AND PAYMENTS
6.1. Security issues in mobile payments
6.2. Security - Barrier to mobile banking growth
6.3. European banks' focus on fraud prevention measures
6.3.1. Anti-fraud data sharing system - Hunter
6.4. Voice biometrics in mobile banking and payments
6.4.1. National Australia Bank (NAB)
6.4.2. Westpac (Australia)
6.4.3. Bank Leumi (Israel)

7 CHAPTER 6: THE FUTURE OF MOBILE PAYMENTS
7.1. Mobile payments increasing:
7.2. New trends and consumer habits in the payments industry
7.3. Mobile payments: applications, business models and technologies
7.4. NFC mobile payments
7.5. P2P mobile payments: remote and proximity-based
7.5.1. Mobile commerce platforms
7.6. Mobile payments in developing countries: an overview
7.7. Mobile payments in developed countries: an overview
7.7.1. Europe
7.7.2. US
7.7.3. Japan
7.8. A driving market opportunity: mobile content payments (micropayments)
7.9. A successful platform for micropayments: the PayForIt case
7.10. New landscapes for payment systems providers: social networks and gaming
7.11. Market sizing of advance payment market and mobile payments

List of Table


Table 1: Top mobile internet markets, Q4 2011
Table 2: Worldwide mobile device sales and market shares, 2010-2011 (Millions)
Table 3: Global mobile handset shipments and market shares, Q1 2012 (Millions)
Table 4: Merchant fees for processing sales thorough Google Checkout
Table 5: Effects of mobile, internet and banking infrastructures in developed and emerging markets
Table 6: BRIC countries: mobile connections, growth and penetration, 2011
Table 7: Comparative estimates of mobile banking users in the US
Table 8: Mobile accounting services
Table 9: Mobile financial information services:
Table 10: Wireless penetration rates in developing regions
Table 11: Percentage of banked households per geographical region, 2009
Table 12: Comparison between branchless banks and traditional banking services in developing countries
Table 13: The value proposition of mobile money solutions for banks and mobile operators
Table 14: Factors determining country readiness for mobile banking services
Table 15: Examples of banking groups offering mobile banking apps
Table 16: Mobile payments users (Millions)
Table 17: Business models for mobile payments
Table 18: Mobile payment providers in India
Table 19: Examples of mobile payment initiatives for different services in Europe

List of Chart


Figure 1: Mobile banking reached the 100 million users threshold in 4 years
Figure 2: Mobile subscriptions per 100 inhabitants (2006-2011E)
Figure 3: Internet subscriptions per 100 inhabitants (2006-2011E)
Figure 4: Mobile cellular subscriptions by geographical region (millions)
Figure 5: Mobile operating systems forecast market shares, 2011-2015
Figure 6: Opportunity areas for mobile banking and payments
Figure 7: Brand Association Map for mobile banking in the US
Figure 8: Mobile banking transactional users - regional estimates, 2011
Figure 9: Penetration of mobile banking among US mobile users, 2008-2015 (% of total)
Figure 10: The number of mobile banking customers in Hungary doubled between 2006 and 2010
Figure 11: Value added of 'mobile money' services for banks, MNOs and customers
Figure 12: Examples of mobile money deployments
Figure 13: Cost-to-serve savings of a 'mobile' MFI or bank
Figure 14: Cost savings for clients of a 'mobile' MFI or bank
Figure 15: Comparison between the pricing for branchless banking and traditional banking services
Figure 16: Average price for mobile banking services across developing economies
Figure 17: M-PESA's growth in revenues
Figure 18: Volume of remittances globally and categorized by region (2008-2011)
Figure 19: Top 10 remittance recipients in 2011 (US$ billion)
Figure 20: Average percentage fee on a US$200 remittance from G8 nations to developing countries
Figure 21: Per-transaction cost by banking channel ($)
Figure 22: Simulated ROI from cost reduction through mobile banking services
Figure 23: Consumer perceptions of Asian banks offering mobile banking services
Figure 24: The importance of social networks and web communities for bank relationships
Figure 25: Sun National mBanking App interface
Figure 26: Concern over security in mobile banking services 2010
Figure 27: Annual credit card fraud rates in UK, 2006-2010
Figure 28: Expected growth in number of NFC-enabled phones
Figure 29: Usage of mobile payments in Japan
Figure 30: Growth of the micropayments industry in Europe (2010-2015)
Figure 31: Percentage of consumers using micropayment providers in the US and Europe
Figure 32: Virtual goods market revenues in the US (US$ billion)
Figure 33: Advance Payments: Global Market Size
Figure 34: Mobile payments: drivers of growth
Figure 35: Issues significant for mobile payments
Figure 36: Important features for mobile payments

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