Download - 2012 Mobile Banking Trends & Innovations
A new look at market intelligence
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Daniel J. Wiegand
Senior Analyst, Consulting & Mobile Research
July 24, 2012
Mobile Banking Trends & Innovations
Corporate Insight’s mobile research
The mobile banking customer
Industry standards
Mobile-specific technology
Tablet development
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Table of Contents
Competitive intelligence and user
experience research provider to the
financial services industry
Industry-wide mobile coverage since 2011
Money on the Move: Mobile Finance
Review 2011 – published June 15, 2011
Mobile Monitor – January 2012 - present
• Bi-weekly updates on changes/additions to
competitors’ mobile websites & apps
• Quarterly reports focusing on key mobile
finance topics
• Behind-the-login films of competitor mobile
websites and apps
• Competitor matrices
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About Corporate Insight
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Unsurprisingly, mobile banking customers are young
Relatively lower income & net worth
Online banking users
Light branch usage
Engaged with social media
54%
33%
16%
0%
30%
60%
Percentage of Users on Mobile - Age
<40 40-59 60+
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Tablet clients tend older and higher-net worth, though
17% 16%
29%
0%
20%
40% Tablet Users - Age
<40 40-59 60+
16% 14%
33%
0%
20%
40% Tablet Users - Income
<$60K $60K-<$150K $150K+
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Account data is key
26%
32%
46%
66%
97%
0% 50% 100%
Pay a bill
Locate an ATM/branch
Transfer money
Check account activity/history
Check account balances
Top 5 Mobile Activities
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Banks are delivering the essentials
As of March 2012, every bank Corporate Insight tracks is mobile
94% offer native apps
83% support an optimized mobile site
72% provide SMS banking
Account balances and activity are universal
Transaction histories range from 3-18 months
Transfers are standard; bill pay widespread
Every firm offers a branch locator; functionality varies
Remote deposit capture (RDC) catching on
Introduced by USAA in 2009
Popularized by Chase QuickDeposit in 2010
Now available from 10+ banks & brokerages CI tracks
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Next phase: mobile-exclusive technologies
Chase QuickDeposit
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Mobile shopping on the rise?
Capital One Deals
AmEx My Offers
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FS firms experimenting with barcode scanning
AmEx RedLaser Promotion & Scan TD Ameritrade & E*TRADE Barcode Scanning
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P2P remains a basic form of mobile payments
B of A Transfer to Another Person ING Bump Payment
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The tablet difference is in design & visualizations
Bank of America Calendar
Citi Overview
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To recap…
Know your mobile (and tablet) customers
The basics remain the most important
Next frontier: mobile-exclusive technology
Tablets also offer unique display capabilities
Connect With Corporate Insight
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Contact Us Dan Wiegand Senior Analyst, Consulting & Mobile Research 212-832-2002 x-118 [email protected]
Stay Connected
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Twitter - @CInsight
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Robert Burlin Vice President & Director, Business Development 212-832-2002 x-115 [email protected]
