Post on 29-Jan-2015
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mCommerce: exploring the
opportunity for banks
Nigel Spear, SVP Monitise
Cards & Payments Innovation Europe
3rd December 2013
© 2003 – 2013 Monitise Group Limited. All Rights Reserved. Confidential.
“Houston we have a problem”
GLOBAL BANKING REVENUES AS A PERCENTAGE OF GDP
Source: McKinsey
As banks face an end of 3 decades of growth in their traditional businesses, they are
looking for new revenue streams and to reduce customer churn
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Mobile as a Differentiator
PAST Mobile transactions larger than sum of
all other channels (if you do it right)
PRESENT New revenue streams, new
customer relationships
FUTURE
The evolution of mobile banking Reasons to engage in mobile banking are changing, it is fast losing its place as a
differentiator and is increasingly seen as a new revenue generator
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The THREAT & OPPORTUNITY for Banks is real
Source: Carlisle and Gallagher/Tower Group-CEB
study US consumers 2012
CONSUMERS PREFER MOBILE WALLET
PROVIDERS OVER THEIR PRIMARY BANK
50% 30% 30% 80%
CONSIDER PAYPAL FOR
BANKING SERVICES
“The Banks of Tomorrow :
Think Google and
Facebook” WIRED Magazine
August 2013
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Convergent Commerce 5
• Banking/ Alerts
• NFC/ Remote
• Offers
• Remittance
Financial Institutions
• Mobile OS
• Marketing Apps
Social Media and
online advertising Retail
• Mobile Checkout
• NFC/ Proximity
• BarCode/ Text Purch
• Offers/ Promotions
• Shopping Apps/
Mobile Web
• Mobile Prepaid
• Remittances
• App Markets
• NFC/ Private Label
• Remote Direct Bill
Mobile
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Built for Mobile
50
BUSINESS
BANKING
27
PERSONAL
BANKING
High engagement mobile banking needs to be
the foundation
Monthly Logins
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ABN AMRO – the time for ‘contextual mbanking moving closer to the customer is now’
© 2003 – 2013 Monitise Group Limited. All Rights Reserved.
ABN AMRO: Mobile HAS overtaken Internet
9
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Banks have assets to make the move from
mbanking to mcommerce
Volumes driven by
simple account
management access
Simple ‘one click’
Ordering Process
Analytics based on
unique consumer FI
spend data
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Research underpins: Customers are ready to
SHOP on Mobile – are banks?
Research conducted by Future Foundation, commissioned by Monitise. Amongst Smartphone Users.
800+ MOBILE MONEY EXPERTS
350+ FIs & PARTNERS
KEY CUSTOMERS
KEY PARTNERSHIPS
5/10 TOP US BANKS
3/4 TOP UK BANKS
VISITS PER MONTH
MOBILE
27+ ONLINE
6 BRANCH
<1
About Monitise
24m REGISTERED
USERS
$50bn OF TRANSACTIONS
© 2003 – 2013 Monitise Group Limited. All Rights Reserved.
Choice of Bank
Top of
Physical Wallet
Top of
Mobile Wallet
Customer Engagement
Leverage
- Trusted brand
- Data
- Eyeballs
Maximise
- Adoption
- Depth of usage
- Frequency of usage
• Key
Driver Top of
Digital Wallet
The Winning Formula for Banks to Defend & Extend role in Payments & Commerce