The Big Flip: Mobile Apps in Financial Services

The Big Flip
Mobility’s Impact on the
Financial Services Market
Jim Somers
Chief Marketing & Strategy Officer
Updated: October 2012
Twitter: @JimatAntenna

2 © Copyright 2012 Antenna Software, Inc. All rights reserved.
Antenna helps enterprises build, run and manage
their mobile applications and content.
➦ Enabling enterprises to eliminate risk, lower costs, and stay
future-proofed from the constant changes happening in our
increasingly mobile society.
What We DoWhat We Do

© Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.
Our ExperienceOur Experience
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4
““WhileWhile 21%21% of all Britsof all Brits
say they would pay billssay they would pay bills
via a mobile phone …via a mobile phone …
© 2011 Antenna Software | All content confidential
…… 46%46% ofof iPhoneiPhone
users said they would.users said they would.””
I recently read that …I recently read that …
Source: “iPhone Users Keenest on Mobile Banking,” Mobey Forum News & Views, Sept. 2011

5© 2011 Antenna Software | All content confidential
They Like It!They Like It!

WhatWhat’s With This ‘Big Flip’ thing?’s With This ‘Big Flip’ thing?
Big Flip
Def. a cultural reversal brought on
by rapid consumer adoption of a
disruptive technology.

7
Flips Are Everywhere
Music Movies Publishing

8
Not to Digress … but
The Tower Records in my town is now a thrift shop!

REACH
9
FUNCTION
Apple: The Serial Flipper
Disrupt
Transform
Disrupt
Transform
Disrupt
Transform
Disrupt?
Transform?

Proprietary and Confidential
1010
• The iPod changed the media industry.The iPod changed the media industry.
• The iPhone ramped even faster.The iPhone ramped even faster.
• The iPad leaves itsThe iPad leaves its ‘siblings’ in the dust.‘siblings’ in the dust.
Source: Apple by way of Mary Meeker, Partner, Kleiner Perkins
What’s Next?

Proprietary and Confidential
1111
Not An Apple Love Story

““It is not the strongestIt is not the strongest
of the species thatof the species that
survives, nor the mostsurvives, nor the most
intelligent that survives.intelligent that survives.
It is the one that is theIt is the one that is the
most adaptable tomost adaptable to
change.”change.”
- Charles Darwin- Charles Darwin
12© Copyright 2011 Antenna Software, Inc. All rights reserved.
Adapt or PerishAdapt or Perish

no!no!
““Forrester Research found thatForrester Research found that
48 percent of information48 percent of information
workers buy smartphones forworkers buy smartphones for
work without considering whatwork without considering what
their I.T. department supports.their I.T. department supports.””
“More Offices Let Workers Choose Their Own Devices,” NY Times, 9/22/11

The IT Flipping PointThe IT Flipping Point
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• Standardized on 1 device platform
• Extending data from behind firewall
• Linear workflow for task based workers
• Simple and straightforward UI/UX
SalesSales
ServiceService
SuppoSuppo
rtrt
Controlled andControlled and
managed by ITmanaged by IT
EnterpriseEnterprise
BackBack
endsends
Mobile 1.0Mobile 1.0
14MerchandisingMerchandising TravelersTravelersShoppersShoppers InvestorsInvestors
• Multiple device platforms
• User, not corporate, device and carrier selection
• Proliferation of third party apps
• Multiple delivery channels & social networks
SalesSalesMarketingMarketingeCommerceeCommerce
MobileMobile
ArchitectArchitect
Management Reacting to Consumer DemandManagement Reacting to Consumer Demand
The Device I Want The Network I Want The Apps I Want
Mobile 2.0

DEVICES ARE EVERYWHEREDEVICES ARE EVERYWHERE
Source: National Retail
Federation, May 2010
Mobile phones
outnumber
credit cards and
bank accounts.
Source: IDC, Worldwide MEAP
Forecast, Sept. 2011
Nearly 1 billion
smartphones to
ship globally by
2015.
Source: Daily Infographic &
http://en.wikipedia.org/wiki/Cattle
That’s like every
cow on the
planet getting a
smartphone!

Source: World Population
Foundation
Nearly half of
the world’s pop-
ulation is under
the age of 25 …
Source: World PopulationSource: World Population
FoundationFoundation
Using a diversity
of mobile tech-
nologies to stay
connected.”
Source: Antenna 2011 MobileSource: Antenna 2011 Mobile
Banking Benchmark StudyBanking Benchmark Study
Driving the rapid
uptake of mobile
banking services
in US & UK.

M-Payments willM-Payments will
reach $670reach $670
billion by 2015.billion by 2015.
(up from $170 billion in 2011)(up from $170 billion in 2011)
Source: Juniper ResearchSource: Juniper Research
This is forecast toThis is forecast to
grow over 6-foldgrow over 6-fold
to nearly 490to nearly 490
million by themillion by the
end of 2014.end of 2014.
Source: Research & MarketsSource: Research & Markets
In 2009, thereIn 2009, there
were 81 millionwere 81 million
mobile paymentmobile payment
users worldwide.users worldwide.
Source: Research & MarketsSource: Research & Markets

Enough Already!Enough Already!
10,000+ mobile
devices from 50+
manufacturers
1.5M mobile apps from
more than 40 stores
1 in 3 mobile
subscribers going
to social networks
thru a mobile
browser
OK … LetOK … Let’s just build something quick’s just build something quick
and easy so we can get somethingand easy so we can get something
out the door. Who can do that?out the door. Who can do that?

‘‘eTraded in his bankeTraded in his bank
““As an active trader, I'm completelyAs an active trader, I'm completely
fed up with this app and I'll befed up with this app and I'll be
moving to another brokerage soonmoving to another brokerage soon
due to how poorly it works.”due to how poorly it works.”
• ““After the update it won't accept my
user ID.”
• “This app used to be so easy and
helpful. Now it will not log in.”
• “Doesn't recognize ID and won't let
you access accounts.”

How Rooted Are Your Apps?How Rooted Are Your Apps?
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New Policies
New Devices
New Users
Winds of Change areWinds of Change are
ConstantConstant
Development What happens when new devices are introduced into theWhat happens when new devices are introduced into the
mix?mix?
Integration What happens when there are updates to the backendWhat happens when there are updates to the backend
systems?systems?
Management What happens when new users come on board or leave?What happens when new users come on board or leave?
Communications Who do your users call if there is a network outage?Who do your users call if there is a network outage?
Security What happens when a device is lost or stolen?What happens when a device is lost or stolen?
Mobile ApplicationsMobile Applications

Mobile Banking Study Tells Us …Mobile Banking Study Tells Us …
• Room for Growth: 40% of respondents use
mobile banking from their mobile device.
• Convenience is Key:
• 55% check their balance
• 43% view transaction history
• 36% use it to locate the nearest ATM
• Securing Trust: 69% of those surveyed said
that security is biggest concern
• Web & Apps Neck & Neck: 16% use mobile
website; 13% use mobile apps
• 2nd
Gen: Large Banks are onto their next
phase of mobile, realizing the app better
be useful or you will lose customers and
damage corporate image
• 2,015 adults in US who
access the internet on
their mobile phone,
smartphone, or tablet.
• Research done in May
2011.
• 2,015 adults in US who
access the internet on
their mobile phone,
smartphone, or tablet.
• Research done in May
2011.
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““Success for me is we have a mobile solution that permeates ourSuccess for me is we have a mobile solution that permeates our
organization and is unencumbered by licenses.”organization and is unencumbered by licenses.”
-CTO, Wealth Management, Americas, Swiss BankCTO, Wealth Management, Americas, Swiss Bank
What We Hear …What We Hear …
““We have done a few one off projects both internally and withWe have done a few one off projects both internally and with
vendors and are looking to consolidate efforts into a coherentvendors and are looking to consolidate efforts into a coherent
mobile strategy.”mobile strategy.” --
-Managing Director, Web Portal Services, British BankManaging Director, Web Portal Services, British Bank
““We decided to deploy a basic mobile banking capability using aWe decided to deploy a basic mobile banking capability using a
vendor to get to market quickly, but now realize we need a holisticvendor to get to market quickly, but now realize we need a holistic
platform for our next gen offering.”platform for our next gen offering.”
-Chief Information Officer, Midwestern BankChief Information Officer, Midwestern Bank

Enable theEnable the ‘Real Time’ Bank‘Real Time’ Bank
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Employee Facing Customer Facing

Garanti, Turkey’s second
largest bank, has over
250,000 customers using its
mobile banking service
each month:
• View their account
• Buy and sell on the stock exchange
• Transfer money, pay credit cards
and reach market data
• The service has been so successful
they are extending it to their small
and medium sized business
accounts.
“We wanted our mobile banking service to mimic the
online site as much as possible so that users would be
familiar with its operation. Our goal was to offer the
broadest set of mobile banking services to Turkey’s
mobile subscribers on the device of their choice. We
have been extremely pleased with the results.”
Barbarous Uygun | Head of Delivery Channels,
Garanti

ING DIRECT’S mobile app
lets banking customer “put a
branch in their pocket” and
conduct their banking
business on the go:
• Transfer money between accounts
• Pay people / bills on the fly
• P2P funds transfer
• Check account balances and
transaction details
• Pay a friend by “bumping”
• One touch access to ING social sites

This app gives institutional
clients the ability to interact
with the full breadth of
proprietary research
content, including:
• Most/least preferred investments
• Equity & fixed income indices
• Personal portfolios
• Recommendations on individual
securities, outlooks & forecasts
• Asset allocation strategies

The Value of the PlatformThe Value of the Platform
Development
• Fast time-to-market
• Cross device
• Common APIs, libraries
and controls
• HTML5-ready
• Single code base
• Lower TCO
• Built-in MEAP
capabilities
ManagementManagement
• Mobile App Platform does 80% of the heavy lifting in managing
your mobile deployments:
- Connectivity management
- Data integration
- Transaction assurance
- Security
- Analytics/BI
- Device Management
• It allows you to free up your IT resources for strategic projects
and deliverables core to YOUR business.
• Keeps you agile, protected and relevant for the long term.
• Mobile App Platform does 80% of the heavy lifting in managing
your mobile deployments:
- Connectivity management
- Data integration
- Transaction assurance
- Security
- Analytics/BI
- Device Management
• It allows you to free up your IT resources for strategic projects
and deliverables core to YOUR business.
• Keeps you agile, protected and relevant for the long term.
➭ Your apps can only be as good as the platform that powers them.
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Big Flip: Immutable TruthsBig Flip: Immutable Truths
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1. Are born by a desire to improve
the experience
2. Occur from the bottom-up
3. Destroy the status quo
4. Cannot be throttled up/down
5. Are inherently good
6. Happen fast
7. Create new ecoystems

Thank You
Twitter: @JimatAntenna
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The Big Flip: Mobile Apps in Financial Services

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