Joe Kennedy - Principal, PwC Financial Services Technology Advisory

More than Mobile...Multi Channel Mastery

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Yesterday, mobile meant “smartphone”

Mobile

Geolocation / Maps

Voice

Simple Games

Internet / Web Access

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Mobile

VirtualReality

Voice & Voice

Recognition

WearableTech

Personal AI

Assistant

Travel

Gaming

Health

Today, Mobile is the “linch-pin”

Hotspot

Motion Detection

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Morning Coffee through Your Mobile Phone

Do you wait in line to get your morning coffee, or is my morning coffee waiting for me?

Do you need your wallet to pay for your coffee or can I grab and go?

Is my wallet filled with partially punched coffee frequent customer cards or does it just contain my license?

Things people take for granted now could never be possible without a Mobile Strategy

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A Mobile Strategy encompasses more than what app to build or a new contact method to customers.

It innovatives business and enables a new lifestyle

Strategy

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Paradigm Shift & Use Cases

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Seven years ago

● IT-driven● Project● Complete on due date● Just for consumers● Not personalized or contextual● Launches to users after waterfall development● Focused on the business goals

Today

● Business-driven● Product● Never complete; always in beta● Part of a holistic app ecosystem and larger

customer and employee experience● Agile development process with user feedback

woven throughout● Focused on the user goals

2010

2017

2019

Tomorrow

● Self Correcting● Learning● Pre-Cognitive● Customer Driven● Self-linking● Self-testing

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Health Data:

Analysis your health data from your wearable device/ diet records to decide what you need to keep healthy

Purchase Record:

Analysis the purchase record to understand your preference over products and what you typically use to keep a healthy life balance

Location Data:

Validate the charges that are being made are in the same location as I am

Social Circle:

Transact directly with my friends to send them money or split the check

Invisible Bank: An experience that covers your life...

Product Innovation Idea

❖ Use Voice Recognition to communicate ❖ Use Proximity Payments methods to accelerate purchase

process

NowPast

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Test Driving Data:

Unlike traditional car insurance, premium will be calculated based on few weeks of test driving data collected through mobile phone

Mobile Applications:

Car insurance can be easily purchased through a mobile application in which the user can look and select the plan that fits them best

Customer Service:

Customer service representative or roadside assistance can be reached with one tap in the application

Competitive Pricing:

Elimination of agents and paperwork allows competitive premium prices

Data driven car insurance policy

Past Now

Product Innovation Idea

❖ Using data from phone including speed and locations to provide information for other types of insurance (e.g. life)

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Just Walk Out Techology:

Using the similar technology applied in self-driving car, it automatically detects when products are taken from or returned to the shelves and keeps track of them in a virtual cart

Mobile Application:

Use the mobile application on your device to get discounts when you enter the store

Online Check Out:

Your online account would be automatically charged with the products you bought in the store

No need to wait in line and check out in the physical store

A supermarket that no lines are necessary...

NowPast

Product Innovation Idea

❖ Search for specific product on your phone and get its accurate location in the store

❖ Generate health report each month based on purchases

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Baseline Requirements

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Overview

Enterprise mobility management (EMM) is an all-encompassing approach to securing and enabling employee use of smartphones and tablets. In addition to addressing security concerns, a strong EMM strategy also helps employees be more productive by providing them with the tools they need to perform work-related tasks on mobile devices.

EMM typically involves some combination of mobile device management (MDM), mobile application management (MAM) and mobile information management (MIM).

Major Players in the Market

● IBM

● AirWatch by VMware

● MobileIron

● Citrix

Baseline 1:Enterprise Mobility Management

Mobile Development Capability

Security

EMM

What can you use EMM (specifically MDM) for?

● Data Protection

● Device Protection

● Protecting Mobile Connections (VPN)

● BlackBerry

● Soti

● Good Technology

● Microsoft

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Overview

Mobile experiences are the baseline for modern digital interactions. Customers expect your company to meet their mobile movements with an application that evolves location based needs. Employee demands for corporate apps are not far behind. Not too long ago, this meant building a mobile app — often one that used data from a single source. But now, customers want an app that works with a mobile website and to have efficient interactions with your brand over Cortana, Facebook Messenger, Google Now, and WeChat. These experiences are not simple for AD&D pros to support, and they require multiple data sources.

Major Players in the Market - Mobile Development Platforms

Baseline 2:Mobile Development Capabilities

Mobile Development Capability

Security

EMM

● Usability● Costs● Lifecycle Management● Security● Integration● Expertise● Applications● Delivery

Factors to consider when choosing mobile application development tools

● Kinvey

● Kony

● SAP

● Red Hat

● Amazon Web Services

● Microsoft

● Oracle

● IBM

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Overview

Mobile data security is is an important electronics issue for both customers and enterprise level users. When employees use mobile devices to access and share critical documents, information and resources, and those mobile devices aren’t entirely secure; the whole business could be at stake.

Securing mobile data and mobile devices is an ongoing process. IT department should be updating the company’s mobile security policies on a regular basis in order to meet the needs of new technology and increased BYOD practices.

Major Players in the Market

Baseline 3:Mobile Security

Mobile Development Capability

Security

EMM

● Multi-factor Authentication● Data Encryption● Security Protocols● Responsibility● Device-Specific Security● Mobile VPN, MAM

Things to consider with mobile security

● Google

● Kaspersky

● SAP

● AVG

● Apple

● Samsung

● MobileIron

● BullGuardPwC’s Digital Services

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New Capabilities

17

WearableDevice

“...expects the wearables market to grow to 162.9 million units by the end of 2020”

- Forbes

VoiceRecognition

“First Computer to Match Humans in Conversational Speech Recognition”

- MIT Technology Review (Oct, 2016)

VirtualReality

“I think that’s going to be really profound: not only being able to capture real things in a much more visceral way, but being able to construct different things that wouldn’t be possible.”

- Business Insider

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Proximity PaymentCustomers are able to make payments

at stores with their smartwatches

Fraud ProtectionCustomers can track their financial

activities on real-time basis to enhance fraud protection capability

Direct Communication with the Customers

Real-time Stock Price Tracking

WearableDevice

Usage

Second ScreenA Smartwatch acts as a second screen

to the smartphone. It requires forward-thinking on how to utilize

Small ScreenOnly the most significant information

into a minuscule screen

Build SimpleMake it easy to use

Things to Consider

82% of Financial professionals believe that smartwatches will facilitate financial transactions

in the future

72% of Financial institutions have wearable applications on

their three-year roadmap

82% 72%

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1919

Voice as a Form of Secure IDVoice can work as a passcode

Client Emotion MeasurementMobile device can predict your

emotion with speech recognition

Voice Assistant in Mobile Banking

Mobile devices can act just like a banker who understands what

customers say and want

VoiceRecognition

Usage

Upside and DownsideVery convenient, readily available but still facing issues and limitations such

as variations of pronunciations or support for languages other than

English

PerformanceCompanies should always be aware of

the performance measure such as accuracy and speed

APIsMultiple available APIs in the market,

including Amazon, Microsoft and Google

Things to Consider

The Speech/Voice Recognition market grew by 11.0% in 2015

(Grand View Research)

Global Voice Recognition market forecasted to reach $113 billion

in 2017 (TechNavio)

11.0% $113 billion

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VirtualReality

Usage

HardwareVirtual Reality can not work without a headset. Companies will need to think

about the hardware.

Customer ExperienceVirtual Reality will provide customers

entirely different experience. Companies must think from

customers’ perspective.

InfrastructureUpgraded computer power will be required and capacity will need to

expand.

Things to Consider

500 million Virtual Reality headsets are expected to be sold

by 2025 (Piper Jaffray)

The Virtual Reality market is expected to be worth $30 billion

by 2020 (Digi-Capital)

Digital On-Demand AdvisorFinancial advisor and client interaction

done through Virtual Reality

Engaging Client EducationFinancial institutions can educate their

clients with Virtual Reality about complicated topics

VR Enabled Data VisualizationData visualization done in more vivid

manner

$500 million $30 billion

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Tomorrow

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Lifestyle Change 1

Will we need physical office spaces any more?

Can we all meet and work in

Virtual Reality?

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Lifestyle Change 2

Can my mobile device become my friend?

Will mobile device be able to not only recognize my voice but also comprehend my emotions and

react ?

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Building capabilities for what your clients are asking for is not a sign of a good mobile strategy, it shows that you didn't have one in the past, and you

are behind

A good mobile strategy should be leading your customers and thinking about what mobile is evolving to, not simply where it is now

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Author Contact

Joseph Kennedy is a Partner in PwC’s Financial Services practice. He leads the Architecture, Integration and Mobile capabilities supporting Financial Services clients

joseph.l.kennedy@us.pwc.com857.272.9462www.linkedin.com/in/joekennedy/

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