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Cisco Secure Mobile Banking

Learn about the business challenges and opportunities in secure mobile banking, the benefits it offers, different scenarios, and why Cisco plays a crucial role in this ecosystem.

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Cisco Secure Mobile Banking

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  1. Cisco SecureMobile Banking Enabling the Collaborative Customer Experience

  2. Agenda • Business Challenges and Opportunities • Cisco Secure Mobile Banking • Business Benefits • Mobile Banking Scenarios • Why Cisco

  3. Business Challenges and Opportunities

  4. Developing the compelling consumer value proposition Overcoming the cost of rich mobile banking service Participating in the mobile banking eco-system Encouraging consumer awareness and education in mobile banking Business Challenges

  5. Profitably penetrate new market segments now under-served Create a fuller range of services by extending the self-service channel Enrich the Collaborative Customer Experience through connected commerce enablement Participate in global standard setting for secure mobile banking Opportunities

  6. Cisco Secure Mobile Banking Business Value

  7. 3 2 1 3 What is Mobile Banking? Mobile banking is a financial self-service channel that extends the bank’s reach into a customer base For consumers, it is a convenient, simple, ubiquitous, trusted and ‘always on’ electronic interface to the bank for banking services on a mobile phone For banks, it is a platform with the highest operational and security standards that can be ‘plugged into’ at low cost. This immediately opens a path to the personal device of millions of consumers.

  8. The Components of Mobile Banking • SMS and Web access (WAP) capable handhelds • Mobile service provider (mobile operators) • Financial services providers • EFT network (switch) • Payment Processors/Payment card association • Merchants: physical, virtual, electronic marketplaces • Communication and financial transactions standards (TCP/IP, ISO 8583) • Mobile applications (wallet, payments)

  9. BANKS TELCO BANK TELCOS VIRTUAL COMMERCE PLAYERS MERCHANTS PAYMENT ASSOCIATIONS EFT SWITCHES Mobile Banking Architectures MOBILE BANKING LITE FULL SERVICE MOBILE BANKING

  10. Mobile Banking Eco-System UK Retail banks Mobile operators Virtual marketplaces and electronic merchants Merchants Card associations

  11. Mobile Banking Business Value • Adds to the portfolios of fee-based services while minimizing costs of offering features and options • Profit enhancer that opens up new customer segments at both ends of the personal financial spectrum • Innovative offering that enhances customer loyalty and preference for the bank’s products and services

  12. Business Benefits Business Value

  13. Benefits of Mobile Banking • Mobile banking is a 2-way channel with pro-active marketing potential • Adds a distribution channel that puts the “anywhere” in banking • Connection to the ecosystem places banks in the connected commerce story • Highly personalized service enables customer retention and nurturing • Innovative service that differentiates from the competition

  14. Mobile Banking Scenarios Business Value

  15. Basic Mobile Banking Services Scenario Problem: Solution: Results: Very large customer base in a developing market with emerging infrastructure – price and cost sensitive. 2-way text messaging-based services including balance enquiry, simple statements and, alerts Low cost delivery of entry level mobile banking opens a service to the entire base as well as giving access to the additional segment of mobile device-equipped; the under-served and un-banked.

  16. Full Range Mobile Banking Service Scenario Problem: Solution: Results: Large customer base, a portion of which is affluent, in a developed marketplace with developed infrastructure Rich applications including money transfer, statements, payments and, connected commerce Full mobile service to affluent sub-set of customer base willing and able to pay for specialized, personalized service. More value add, greater fees, intense “stickiness”, greater wallet-share

  17. Why Cisco? Business Value

  18. Cisco is the platform that ties the eco-system together Cisco is the gold standard for open network security Cisco enables multi-channel integration by providing top tier communication infrastructure and associated products and services. Why Cisco in Secure Mobile Banking? Cisco leads in secure, flexible, and scalable networking solutions on converged IP networks. Secure Mobile Banking is backed by Cisco Technical Assistance Center (TAC) and solutions from innovative partners.

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