This document discusses Ericsson's vision of an open money network in the future networked society. It notes that Ericsson has a vision of 50 billion connected devices by 2020 and argues that money should be no different and should be made open. It discusses how mobile operators are seen as highly trustworthy but mobile money services currently lack trust, and explores how to build trust in these services by focusing on education, secure platforms, and partnerships. The document's vision is of an open money network that connects ecosystems through standards like SWIFT and allows for simple banking, P2P transfers, and payments across a global connected society.
3. Ericsson in africa
since 1896
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 2
4. Our vision of the
networked society
› We have a vision of 50 billion connected
devices by 2020
› We do not just connect places and people
– but also machines and devices
› Anything that benefits from being
connected will be connected
Why should money
be any different?
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 3
6. Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 5
7. High level of trust…
…in Operators…
– Reliable and Technologically adept
– Personal and available to everybody
…but lack of trust in the service
– 44% of non-users believe it’s insecure
Banks also perceived as trustworthy, but
troublesome to visit and expensive to use
Source: Ericsson ConsumerLab Analytical platform 2012 & Ericsson ConsumerLab M-Commerce in Sub Saharan Africa, Consumer Insight Report 2012
Base: THOSE WHO DON’T BANK or WOULD NOT LIKE TO BANK VIA MOBILE
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 6
8. ›
Source: Ericsson ConsumerLab M-Commerce in Sub Saharan Africa, Consumer Insight Report 2012
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 7
9. Cost by
channel
› Costly traditional banking
channels
› Declining Return on
Investments for Branches
› Mobile “The Most”
economical and cheap
› Leverage on Mobile
Technology?
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 8
10. Getting the basics right at a
lower cost base
Education about
functionality and
security
Enterprise grade
Platforms that bring
security, scalability
and flexibility
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 9
11. building the open
money network
SWIFT
(financial
industry)
Money
transfer
Internet
companies
CONNECTING THE
ECOSYSTEMS
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 10
Emerging
Market Mobile
wallets
12. Partnerships will be key
REGULATORY FRAMEWORK
Agent
Network
Consumer
Base
Brand
SIMPLE BANKING, P2P, PAYMENT SERVICES
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 11
13. Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 12
14. The new
fundamentals
The value of trust
The value of inclusion
The value of connectivity
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 13
15. It’s time
for Money
to Change
When money is open, the way
we send, spend, and receive
money will change forever.
Open Money in Networked Society | Ericsson Internal | 2013-11-07 | Page 14