Post on 15-Jul-2015
Highlights of Mapa Insight Series 2014 Complimentary Report Slides
Mapa Research Find out more about our research: www.maparesearch.com/research
Page 2 © Mapa Research December 2014
Contents C
1. Tablet Banking Series p. 3
2. Mobile Banking Series p. 7
3. PFM Insight Series p. 12
4. How to win start-ups p. 18
5. Mapa Insight Series: Report schedule 2014 p. 22
6. Contact Details p. 24
@ About Mapa p. 25
About the report Tablets are becoming mainstream and are used across
age groups. Consumers are adapting to multi-screen
lifestyles, as part of which tablet plays an important
part. Furthermore statistics tell us that tablets are
frequently used for browsing websites as well as
purchasing products and services.
This report highlights current tablet banking
propositions, and also what the browser experience
after login looks like. Furthermore we examine if and
how banks utilise the sales monetisation opportunity as
part of browser and app experiences.
By reading this report we aim to help you better
understand the current tablet banking landscape, and
pinpoint tablet specific opportunities within both
servicing and sales.
1. Tablet Banking Series: Are you making the most of the tablet opportunity? Author: N. Olsson Edited: E. Chatham April 2014
If you have any questions regarding this report, please contact Niklas Olsson on +46 (0) 8 509 074 05 or via email: niklas@maparesearch.com
© Mapa Research December 2014 Page 3
© Mapa Research December 2014
1 The tablet banking proposition: Providing a better overview than mobile
Page 4
The tablet experience certainly provides a better overview compared to mobile. This is something that some, but not all banks take advantage of. One of better examples we have come across is Standard Bank (ZA). The bank launched a new iPad app mid March 2014. Below we compare the iPad and iPhone app landing pages after login. The tablet overview is positioned as ’My Personal Dashboard’ and customers can add, remove and move around different tiles. Letting customers dictate the experience according to their needs has been at the heart of developing the app. Do note that you can swipe sideaways to view additional content.
© Mapa Research December 2014
The browser experience after login: The OK one 1
Page 5
The DNB (NO) have incorporated interactive components for touch users to the desktop experience. The overview has a modular based approach which was introduced in 2013. Users can drag and drop preferred modules by pressing the top left part of each module. In addition users can also swipe through recent transactions and also the quick transfers facility works well on a tablet.
Landing page after login (above and to the right) Another point to make is that DNB make use of sticky navigation. See screenshot to the right where a user has scrolled down whilst the navigation remains at the top. The different navigation tabs can be expanded with one tap on the screen. These are all good techniques to help improve the user experience for tablet users.
© Mapa Research December 2014
1
A small number of banks researched such as USAA and Boursorama have dedicated product information sections as part of their app navigation. This gives tablet app users the added convenience to apply for a product from within the app thereby enhancing customer journey and providing the bank with a low cost sales conversion.
Sales monetisation: App – Tablet optimised product applications
Open an account
Product options available: Investments, current account,
savings, life insurance, sharedealing, mortgages
Open account Form asks for personal details, address and contact
information
‘Open an account’ section uses visuals of a rotating disc that is segmented into different products & services offered. Clicking on a
product slides open an overlay of relevant product information and for certain products a link to apply within the pre login section of the app.
Page 6
Mapa comment
Product applications are available before and after login.
A point to make is that personal details are prefilled if
applying after login, hence providing a slicker experience.
About the report Engagement with mobile banking apps is increasing as
retail banks begin to incorporate functionality which was
once only availability within the desktop channel. As a
result, customers can now truly transact on the go, and are
enticed to have greater engagement within the app.
This report highlights the current mobile banking app
market. It looks at the types of innovations banks have
been setting forth over the past 9 months in addition to
outlining which functionalities can now be deemed “hygiene
factors.” Furthermore, we take a good look at what the
future of mobile banking looks like, in particular those
disruptors and new techniques which may revolutionise the
market.
By reading this report we aim to help you better understand
your mobile banking app positioning relative to other retail
banks. It should provide you with an idea of what users will
soon believe to be standard functionality within apps, and
also provide inspiration as how to become a market leader
2. Mobile Banking Series: State of the Market 2014 Author: M. Johnson and N. Olsson Edited: E. Chatham May 2014
If you have any questions regarding this report, please contact Meaghan Johnson on +44 (0) 7739 752 442 or via email: meaghan@maparesearch.com © Mapa Research December 2014 Page 7
© Mapa Research December 2014
Mobile Banking – Current Provision: PFM Approach 2
The landing pages, or home screen, within mobile banking apps varies from the visual with a high level of functionality to the basic and transactional led. Below are examples of banks that take a more visual approach, which include graphical representations of account balances, or available credit, and a number of links to functionalities ranging from secure messaging, special offers, budgeting and payments.
BNP Paribas and Hello! Bank (FR) offer a highly visual home screen with a visual representation of a customers balance by month.
Furthermore, BNP highlights customers recent spending via icons and colours
Societe Generale (FR) similarly has a visual representation of the
customers balance based on a set threshold. Furthermore, it has an icon driven navigation
Barclaycard (UK) provides customers with a visual representation of their
available credit
Page 8
© Mapa Research December 2014
Handelsbanken (SE) have introduced fund trading functionality to existing iPhone and Android apps. Customers have the option to buy, sell and set up standing orders to preferred funds. Navigation to their ’Savings and investments’ section and overview of existing holdings illustrated below.
Key Themes and Developments: Product integration 2
Landing page after login
Savings and investments icon highlighted
‘Savings and investments’ overview
Three navigation options:
1. Current holdings
2. Buy a new fund
3. List of funds
Current holdings page Information about a specific fund
Options to buy, sell, switch to other fund or set up a standing
order
Page 9
© Mapa Research December 2014
A number of banks have introduced a Windows Phone app. The functionality is not always as extensive in these apps as the iOS and Android apps (ING Netherlands). Barclays (UK), the latest UK bank to introduce the app, uses the same left hand side navigation as its iOS and Android apps.
Key themes and developments: Windows Phone Apps 2
The app uses the same left side navigation as the iOS
and Android versions
The app has less functionalities then the iPhone
and Android apps. It only allows customers to view their accounts, make internal and
external transfers., where iOS and Android users can make
bill payments and have personalisation options.
Same functionality as the iOS and Android versions
Page 10
© Mapa Research December 2014
3. PFM Insight Series: Will Big Data projects help put PFM centre stage? Author: N. Olsson Editor: E. Chatham June 2014
If you have any questions regarding this report, please contact Niklas Olsson on +46 (0) 8 509 074 05 or via email: niklas@maparesearch.com
About the report This report will provide as an in-depth insight into how
digital Personal Finance Management has evolved
over the last 12 months, along with an account of the
top developments from providers across the globe.
Furthermore we continue to track and report on key
trends within the field.
Besides our own view and analysis we have also
included insight from four market leading vendors
highlighting what they have been busy working on and
where they see the market going.
This report aims to help support investment decisions
as it offers an independent view of personal finance
management. Additionally, it provides an inspirational
resource for developments within the field.
Page 11
© Mapa Research December 2014
Top PFM developments: Basic visualisations – smaller improvements
Building on the examples on the previous page, we would like to highlight some further improvements. Again, these are all minor yet significant examples of how relevant additions can add value to the experience. Besides the fact that these are predominantly the types of approaches banks have been working on, it is evident that mobile is the prioritised device for developments.
Bank of Melbourne (AUS) Customers can choose to activate a quick balance
feature including a barometer indicating where your balance sit in relation
to pre-set thresholds.
Comm. Bank (AUS) Following an app relaunch
Q1 this year total credits and debits and net position are now displayed straight after
login.
As it stands accounts and cards are included. This can
help customers to get a better feel for their overall
finances.
BBVA (ES) The bank has recently
introduced an app re-design. The landing page after login lists all your products with the bank and a bar chart at
the top now gives customers a visual understanding of split between assets and
liabilities.
Sabadell (ES) Yet another example of a
Spanish banking app refresh comes from Sabadell.
Similar to BBVA a bar chart
approach is used. In this case it highlights the
percentage split between regular accounts and
investments.
3
Page 12
© Mapa Research December 2014
Top PFM developments: Analysis – tablet only development
ING (BE): The ’My Budget’ section is still highlighted as being in beta and consists of one clear and intuitive overview page (screenshot to the left). Users set the preferred time period at the bottom. By pressing and turning the wheel users can choose to highlight categories of interest. In this case ’Salary’ and ’Home’. When tapping ’View details’ users can see a breakdown of spend in that particular category (see below). ING has prioritised developing PFM features for iPad users only. No features are available in mobile or internet banking.
What do we like about this example?
Available features are seamlessly integrated
Prominent positioning of features
No setup process
Not overdoing it – relevant and intuitive features.
3
Page 13
© Mapa Research December 2014
Kiboo (US) is a relatively new initiative primarily aimed at kids, youths and their parents. The product consists of a debit card, current and savings account which you manage through a browser based interface. Central to the service is a visual overview of finances, how and where your spend, budgets and savings goals. An interesting part of the service is that parents can overview how their kids spend their money and what savings goals they currently have. Parents can quickly and easily transfer money in to their kids’ accounts. Finally we want to emphasize that Kiboo has partnered with a number of retailers and this comes in to play when having achieved a savings goal. Depending on the purpose with the goal the user is presented with information on where to buy the item (e.g smartphone, bicycle) at the best price.
3
Link to an interview with the founder: elitedai.ly/1ah8NDH
Page 14
Link to site kiboo.com
Increasing customer engagement: Initiative aimed at kids and parents
Point of note Do remember Yodlee’s comment earlier saying
that collaborative banking features being one of
their key areas of development during the last
12 months.
© Mapa Research December 2014
About the report This report will provide you with insights into how
leading retail banks worldwide work to attract and
engage with start-ups online. The reason behind this
focus is that the vast majority of businesses within the
SME sector are micro businesses*. Furthermore,
statistics show that, once a customer of a bank,
businesses are reluctant to switch, hence it is important
for banks to get new businesses on board.
This report highlights a number of standout examples
taken from across the globe, revealing different
approaches taken and deriving useful insights. It aims to
help support investment decisions and to provide an
inspirational resource for further developments in this
field.
This report is part of our annual insight report series that
examines various hot topics within the field of digital
financial services.
4. How to win start-ups: A global good practice report Author: N. Olsson October 2014
If you have any questions regarding this report, please contact Niklas Olsson on +46 (0) 8 509 074 05 or via email: niklas@maparesearch.com
*According to the European Commission: bit.ly/1hvk7SN
Page 15
© Mapa Research December 2014
4
DNB (NO) together with the Dutch banks stand out as being very start-up focused. In May 2014 DNB launched a ’Start-up Solver’ team. You can reach this dedicated team of advisors via phone, weekdays 8-17. The team of experts gives you good tips and help on how to take things forward. Below we highlight the ’Start a business’ page. During the spring DNB conducted a poll asking if a start-up forum would be a good thing. 91% of the respondents said yes and as a result a forum went live. The forum sits on a Labs site, but selected topics are integrated nicely on different pages.
Support and advice: Start-up focused approach
In DNB we have a team named the ’Start-up Solver’. We know a lot about starting a business...
Most recent discussions from the forum integrated
9 sub-sections that you can dive into: 1. Business idea 2. Business plan (see next page) 3. Financing and support 4. Type of company 5. Registration 6. Tools and forms 7. Webinar and Seminar 8. Inspiration 9. Become a customer
Page 16
© Mapa Research December 2014
4
November 2013 Westpac (NZ) released a ‘Get Feedback’ tool to their business banking customers. The bank claims it is the first of its kind offered to business banking customers in Australia and New Zealand. Using this service businesses can capture and analyse their customer feedback and build better engagement. They will be able to track, in real time, how customers feel about the service they offer, manage customer interactions and receive valuable verbatim feedback. They are also able to post feedback in the social media channels they use. The service is provided together with Vocaliti. As part of announcing the tool Westpac said that they see huge opportunity helping SME’s drive their customer experience.
Link to the page including a video demonstration: bit.ly/1qOcCbQ
Key features: • Live online Dashboard • Build surveys simply and quickly • ’Share’ positive feedback automatically • Track customer feedback over time • Set up alerts to identify important customers • Benchmark against the best
Digital tools: Doing more business
Page 17
© Mapa Research December 2014
CIBC (CA) introduced their app in September 2013. Similar to Swedbank it offers more than just the basics. You can perform critical payment tasks including payment approvals and rejections for all payment types. Establish up to 30 favourite accounts for even easier access. Also, you can review payment details and audit history. Three standout features that we want to highlight: 1. Receive mobile notifications for payments requiring approval or a FX rate for settlement 2. Easily make phone calls to team members to confirm payments details. 3. Obtain foreign exhange rates for cross-currency payment settlement
In particular point one and two can help business owners save time and it will also reduce the risk of forgetting important payments.
4 Top five business banking apps: CIBC (CA) Link to video demonstration: bit.ly/1m7pWZ7
All accounts – option to set
favourite accounts for easier access
Account details Approve payments Approve payments – payment details
Real time foreign exchange - option
to trade
Page 18
© Mapa Research December 2014
Introduction to the reports: These eight reports (two per quarter) are aimed to cover key hot topics within the field of digital financial services. The reports have a global emphasis providing insight into the latest trends and developments. The reports aims to support investment decisions within the field providing an independent view. In addition they provide as an inspirational resource as well as it helps to increase your overall understanding and awareness of different topics.
3. Mobile banking – state of the market 2014 Three key questions to ask as part of the research 1. What is the current state of play? 2. What innovative ways have banks developed for mobile banking users in the last 12 months? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Up-to-date view on developments within the mobile banking 2. Understand where developments take place and key trends 3. Insight into leading initiatives 4. The evolution of digital PFM – 4th edition Three key questions to ask as part of the research 1. What new digital PFM tools have been implemented in the last 12 months? 2. What have leading vendors accomplished over the last 12 months and where do they see the market going? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Up-to-date view on developments within digital PFM 2. Understand where developments take place and key trends 3. Insight into leading initiatives
1. Cross channel experiences- state of the market 2014 Three key questions to ask as part of the research 1. To what extent are experiences aligned (look and feel, functionality, security and communication)? 2. What is the current state of play including key challenges? 3. What are the key trends and where are we moving? Three key points for the reader to take away: 1. Up-to-date view on the current state of play 2. Understand where developments take place and key trends 3. Insight into leading initiatives 2. Tablet banking report series – 6th edition Three key questions to ask as part of the research 1. What are the current tablet banking propositions 2. What are current browser experiences after login like? 3. Are banks utilising sales opportunities at hand? Three key points for the reader to take away: 1. Understanding of tablet banking propositions 2. A feel for current browser experiences after login 3. Identify to what extent banks have utilised the sales opportunity that comes with tablets
5 Mapa insight series: Reports schedule 2014
Page 19
© Mapa Research December 2014
5. Digital innovations: Selling within digital banking channels – 2nd edition Three key questions to ask as part of the research 1. How do banks utilise the different channels from a sales and marketing perspective? 2. How have approaches evolved over the last 12 months? 3. What are the key trends and what does the future hold? Three key points for the reader to take away: 1. Understanding of different techniques and approaches used 2. Get a feel for where the market is moving 3. Insight into leading initiatives 6. Digital innovations: Engaging and onboarding business banking customers – 2nd edition Three key questions to ask as part of the research 1. What are banks doing to segment their offerings and make them more relevant and appealing to customers/prospects? 2. What are banks doing to engage customers/prospects and by that draw them into the website? 3. How have techniques and approaches in relation to point 1-2 evolved over the last 12 months? Three key points for the reader to take away: 1. Understand how retail banks worldwide try to engage prospects in the digital space 2. A review of niche features available to business banking customers 3. Insight into how retail banks worldwide utilise the digital channels to generate new customers
7. Digital banking security report – 3rd edition 3 key questions to ask as part of the research 1. What innovative and different initiatives are currently available? 2. How will these initiatives affect the customer experience? 3. What are the key trends and what does the future hold? 3 key points for the reader to take away: 1. Up-to-date view on developments within the field 2. Understand where developments take place and key trends 3. Detailed insight into activity from banks worldwide 8. The evolution of point-of-sale mobile payment services – 3rd edition 3 key questions to ask as part of the research 1. What is the current state of play of the mobile payments market in relation to edition 1-2? 2. What new services have come to market (and being scrapped) in the last 12 months? 3. What are the key trends and what does the future hold? 3 key points for the reader to take away: 1. Up-to-date view on developments within the mobile payments sphere (point-of-sale only) 2. Understand where developments take place and key trends 3. Insight into a range of innovative and different initiatives
Mapa insight series: Reports schedule 2014 5
Next steps: If you are interested in finding out more about the reports including purchasing options please do get in touch with Niklas Olsson: niklas@maparesearch.com
Page 20
© Mapa Research December 2014
Contact Details
Subscription & Report Enquiries Meaghan Johnson Associate Director, Consultancy meaghan@maparesearch.com Nordic Alex Hertzell Senior Consultant alexander@maparesearch.com Asia Pacific Mark Donohue Regional Director mark.donohue@maparesearch.com
Management Nicholas Coutts Chairman nick.coutts@maparesearch.com Edward Chatham Managing Director edward@maparesearch.com Clare Warren Research and Operations Director clare@maparesearch.com
Mapa Research HQ 4th floor 101-102 Turnmill street London EC1M 5QP Tel: +44 207 566 3940 www.maparesearch.com
Consultancy Enquiries Ross Methven Director of Consultancy ross.methven@maparesearch.com Meaghan Johnson Associate Director, Consultancy meaghan@maparesearch.com
International Offices Asia Pacific Mark Donohue Regional Director Tel: +61 419 132 492 mark.donohue@maparesearch.com Nordic Gustavslundsvägen 143 5tr 167 51 Stockholm Sweden Tel: +46 (0)8 509 074 05 nordics@maparesearch.com
UK Offices
The Watchtower St Cuthbert's Churchyard 7A Lothian Road Edinburgh EH1 2EP Tel: +44 (0)7710 305 112 ross.methven@maparesearch.com
© Mapa Research December 2014
Page 21
© Mapa Research December 2014
OUR CLIENTS
@ About Mapa
Use our social media resources to keep ahead of the game
Subscribe to our RSS feed
www.maparesearch.com/news/rss
Follow what we are saying on Twitter
www.twitter.com/maparesearch
Join our LinkedIn Group:
Digital Banking Innovation
Subscribe to our free e-newsletter – Mapa Market
Monitor http://www.maparesearch.com/news
Like us on Facebook!
Or just see what is new in Mapa Research
Page 22