Mobile Banking for Corporates

Transcription

1 Mobile Banking for Corporates Laura J. Listwan, SVP, New Product Development Global Treasury Management, U.S. Bank Amy L. Johnson, SVP, Mobile and Online Channel Strategy Wholesale Internet Services, Wells Fargo

2 Please turn off all cell phones or mobile devices. Thank you to today s sponsors! This morning s Continental Breakfast sponsored by Javelin Breakfast Roundtables sponsored by SWACHA Thought Leadership Spotlight Session sponsored by Fundtech Monday Night Celebration sponsored by Fiserv Most of the education sessions at the conference can be counted towards your continuing AAP accreditation. If you are interested in becoming an Accredited ACH Professional (AAP), please stop by the NACHA & RPA booth. Please take a moment to complete session evaluations! Each evening attendees will receive an link to access session evaluations that are offered each day. Attendees are automatically entered into a daily drawing for a chance to win a $50 gift card. Register now for PAYMENTS 2012 Receive the PAYMENTS 2011 Early Bird Rates Only available onsite Visit the Registration Desk for more details. Thanks to all of our Track Sponsors!

3 Agenda Building the Case for Mobile Corporate Banking Mobile Trends Landscape Corporate v. Consumer Mobile banking vs. mobile payments Mobile browser vs. app Wells Fargo Design approach Customer feedback and research Anticipating the future U.S. Bank Design approach Customer feedback and research Anticipating the future Security Q&A 3

4 Fun Mobile Facts International Data Corp reports that in the Q4 2010, smartphones surpassed global PC shipments 1 The number of smartphones sold in Q was up 87.2% from the 53.9 million sold in Q Mobile phones will surpass PCs as the way most people access the Web in The number of active mobile banking users worldwide is forecasted to increase from 55 million in 2009 to 894 million in Aite Group estimates that only 4% of businesses globally currently use mobile banking 4 Source: 1. FT.com: Smartphones shipments surpass PCs Feb. 8, Gartner s Top Predictions for IT Organizations and Users, 2010 and Beyond: A New Balance Dec. 29, Berg Insight: Mobile Banking and Payments 4 Aite: The Business Case for Offering Corporate Mobile Banking Services Nov

5 Building the Case Will they use it? According to Aite, the answer is yes Approximately 2/3 of businesses surveyed would be somewhat likely to use mobile corporate banking services to perform basic transactions over the next 12 months 43% of survey participants described themselves as likely or very likely to do so 56% of survey participants expressed interest in performing more advanced functions such as wires and the release of payroll batches and initiating payments Will they pay for it? According to Aite, the answer is yes Approximately 49% of businesses are willing to pay for mobile cash management 5 Source: Aite: The Business Case for Offering Corporate Mobile Banking Services Nov 2010

6 Why Corporate Mobile Banking U.S. Bank Customers expectations on how they interact with their bank is changing Anytime, anywhere banking Multiple touchpoints Consistency Customer driven development Additional accessibility Business recovery need Need to do more with less 6

7 Why Corporate Mobile Banking Wells Fargo Table Stakes Today s twenty somethings are tomorrow s treasurers They are comfortable with all things mobile personally They will expect mobile in their jobs Stickiness User experience, making our customer s day more efficient Channel Strategy Different customers use different channels Mobile, voice, tablets, SMS (text messaging), online Brand Consistency and Awareness Consistent treatment across all interactions with the bank Technology leadership 7

8 Mobile landscape Texting Browser Apps Tablets Voice 1 Way Alerts Easiest 2 Way Info 2 Way Transactions Device agnostic Build once Less robust UI Heavier investment Choose which platforms More robust UI Camera/RDC Evolving More like full laptop experience? Apps and browser Bigger real estate Voice authentication Voice controlled browsers All should be complimentary, especially with traditional online experience All must be done securely 8

9 Corporate v. Consumer Mobile Banking Similarities Focus on exceptions Small interactions Multi channel Differences Security concerns Device ownership & control 9

10 Top Mobile Banking Functions Consumer Alerts & notifications Account balance / recent activity Account transfers Bill pay Corporate Alerts & notifications Approvals Exception decision making Balance information / transaction search Small Business All of the above, plus Remote deposit capture Take payments 10

11 Mobile banking vs. mobile payments Mobile Payments (versus mobile banking) three current points of interest 1. Payments initiated on the customer s mobile device e.g. A coupon app on the customer s phone 2. Sales force takes payments in the field via mobile reader, swiper 3. Remote deposit of (paper) payments scanned and deposited In the near term, looking to devices and apps to facilitate mobile payments eventually processed over the traditional channels/rails. Current infrastructure/ecosystem fragmented and evolving. 11

12 Browser vs. app Design decision point, affecting Development costs Implementation costs (loading to an app store) Customer reach Customer experience Mobile Browser More easily developed for multiple devices Recent advances in HTML5 giving mobile browsers a much more robust user experience Smartphone App Richer user experience Able to take advantage of phone features (e.g. camera) Able to incorporate push alerts 12

13 Wells Fargo CEO Mobile Design Approach What would an on the go cash manager want to do? Started with Treasury functions View intraday balances and transactions Approvals, initiations, fraud monitoring Added non Treasury functions Snack sized mantra small screen, few minutes Simplicity No enrollment, no set up, no additional fee Timing Concurrent rollout in 2007 with consumer mobile banking iphone app in 2009, right after consumer app 13

14 Wells Fargo Customer Research and Feedback Early and ongoing Customer research sessions and satisfaction surveys Usage patterns Device usage Early customer feedback Just give me the links Balance just the right amount of data to make a decision Current customer feedback Looking for a more robust interface Security, security, security Usage Confirmed approach for snack sized, action oriented tasks 14

15 Wells Fargo Anticipating the Future Future flexibility will be partly determined by technology: reusable components User interface standards and frameworks Web services to access data and systems Which to assess tablet or touch? Tablet means mobility of the (mostly) full online experience Touch screen means a new user interface Strategy must evolve and adjust What we know in 1 or 2 years will be a lot more than we know today The first iphone came out less than 4 years ago Since then: App Store, ipad, Android, HTML5, 3G and 4G, etc 15

16 U.S. Bank Mobile SinglePoint Design Approach Applied lessons learned from consumer mobile banking Identified most common activities and translated into corporate equivalent Openness / desire for new approach (e.g. not online but smaller) Focus on mobility Fast, quick & easy Need to make every keystroke/screen refresh count Initial solution web enabled v. apps Choice due to flexibility, security, & time to market Abundance of smartphone options and operating systems Potential to re evaluate based upon customer feedback 16

17 U.S. Bank Customer Research & Feedback Interactive screen design Built initial prototype based upon what we knew / assumed Significant user experience testing Customers used prototype to perform various scenarios Customer feedback Significant changes to screen design Presentment of data Amount of data Requested additional admin functions Agreement in overall approach Focus on function; removal of silos 17

18 U.S. Bank Anticipating the Future Demand for additional mobilization & flexibility Services Simplification Continued proliferation of devices Need to test design on multiple devices Cannot support all devices Important to monitor usage & make adjustments Impact of tablets Future of apps / technology Mobile s impact on bank s portal Taking lessons learned to increase efficiency 18

19 Mobile Security What best describes your opinion on mobile corporate banking security? It is secure and is not an issue I am concerned with 5% I am not sure Security is a concern, but I would still use it 14% 22% Security is a concern & would prevent me from using it 58% 19 Source: Aite: The Business Case for Offering Corporate Mobile Banking Services Nov 2010

20 Mobile Security Mobile malware & spyware incidents low but trending higher According to Lookout, malware & spyware appeared in 9 of 100 phones it scanned in May 2010, more than twice the 4 in 100 rate in December 2009 Most mobile malicious incidents involve bogus phone or textmessage charges or rogue mobile applications Phishing is a growing problem on smartphones Mobile users are 3x more likely to fall for phishing scams than PC users, according to Trusteer Most practical rule is to start thinking of your smartphone as a PC Take care when downloading mobile applications Only download from sites you trust Install mobile antivirus software Dual custody remains one of the strongest deterrents to fraud 20 1 Source: February 27, Source: security.org, January 4, 2011

21 Is my data secure? Accessing Mobile Same security encryption protocols used with main website used with mobile Secure credentials User IDs and passwords Data never stored on device Use of tokens for more sensitive transactions Session times out after inactivity 21

22 Questions? 22

23 Speakers Amy L. Johnson Laura Listwan 23