Mobile payments bank statement requests mobile

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Unformatted text preview: cally include the components listed the table on the right. Mobile payments Bank statement requests Mobile remittance and transfers Threshold alerts (e.g. overdraft) Bill payments Standing order creation and amendment Branch and ATM locations Subscribing to other services provided by the bank Helpline and emergency contacts Adding credit to prepaid mobile devices MOBILE BANKING IS THE SECOND MOST IMPORTANT CHANNEL FOR INCREASED IT INVESTMENT DURING 2010 Which are the most important business areas that you are increasing IT investment in? 100 94 90 Channels 83 81 77 80 70 70 59 60 59 56 55 48 50 40 30 20 10 Business area Back-office support Branches Call centers Payments Product administration Mobile banking Operations Product development functions Online 0 Compliance and risk management As consumers grow increasingly familiar and engaged with mobile banking, we anticipate a gradual progression from the use of “simple” informational services to “complex” Balance or latest transaction enquiries Number of banks In creating strategic roadmaps for mobile banking (an activity that must be performed in combination with established interaction conduits such as branch networks, contact centers, and websites, rather than in isolation), institutions must equally take m-commerce activities – specifically the payments element – into consideration. Mobile banking has four distinct phases of development, and the provision of m-commerce capabilities plays a fundamental part in achieving full engagement with consumers (which drives revenues through fees from recurring subscriptions and mobile payment transactions). TRANSACTIONAL Returned checks or check status The results of Ovum’s latest retail banking technology spending strategies survey (conducted in 4Q09 and involving comprehensive structured interviews with institutions in Western Europe, North America, and Australasia) aptly illustrate that mobile banking is the second most important channel for increased IT investment in 2010. INFORMATIONAL Number of interviews = 171 S TRAI...
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