Mobile is undoubtedly throwing up many challenges for banks. From payments to security and from customer expectations to user experience prioritising new developments remains difficult.
One key challenge is getting customers to adopt mobile banking, but if successful – and as trends are showing – it presents an opportunity to up sell and cross other financial products and services. In this report we look at how banks have innovated within both these areas.
Mobile Promotion Key Themes
- Mobile banking is being promoted heavily throughout all of the channels of retail banking. Banks are keen to push customers to the mobile channel.
- Banks are experimenting with new marketing methods to increase mobile banking usage.
Mobile Commerce Key Themes
- Mobile commerce in retail banking is in its infancy – if you are yet to formulate your strategy it is not too late. But it will be soon.
- Banks are still grappling with risk, regulatory and practical concerns and therefore avoiding full application processes.
- Mobile design and usability techniques that are standard in other sectors are transferable to retail banking.
- Purchasing via mobile (including loyalty and /or location based offers and coupons) further complicate the picture but provide a huge opportunity. For the time being organisations in other sectors are the pacesetters in this area.
How to buy this report
Please email Edward Chatham for more details or phone our London office on +44 207 566 3940
- Banco Sabadell
- Bank of America
- Bank of China HK
- Commonwealth Bank
- Danske Bank
- ING Bank
- ...and more!
- South Africa