Money on the Move: Financial Services in a Mobile World

1. Money on the Move:Financial Services in a Mobile World SourceMedia Industry Trends & Marketing Conference February 7, 2012 Presented by: Michael Ellison

2. Agenda Introduction Why bother? Financial Services Goes Mobile Best Practices Recommendations/Parting Thoughts

3. Who Are We? • Competitive intelligence firm serving financial services industry • Customer experience and Web best practices • Monitor services covering financial sites since 1997 • Use our own accounts to test them • Focus on Mobile • Wireless Monitor 2001 • Money on the Move Report 2011 • Mobile Monitor 2012 • Ongoing updates • http://www.corporateinsight.com/blog • http://twitter.com/cinsight

7. Mobile Timeline

8. Why bother?

9. Why bother?

10. Why bother?

11. It’s happening now PCs shipped during same period: 92.1 million

12. Not your father’s tech revolution Business is not driving this tech revolution – consumers are.

13. Why should financial services care? Your future customer will demand it. • Your customers are mobile • 28% of investors use mobile to interact with financial firm (CI Survey). Expect more. • Mobile users are younger and wealthier • Pretax income of $100,000 or more (CI Survey) • 55% of wealthy under-50 investors want to interact with advisor via tablets (Cisco survey)

14. Déjà vu all over again? http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

16. Industry Survey

17. 76% of respondents say their firm already offers their clients a mobile platform

18. …And most think mobile is a good idea • A full 90% think it’s “definitely” or “probably” a good idea to provide their clients with a mobile experience

19. 99% say mobile is important to customer experience

20. In their own words… Everyone is mobile now and our competitors – direct and indirect – have apps already or are developing them. As more customers adopt smartphones/tablets as their primary communication resource, we need to provide them the information in the format of choice. A mobile experience is critical to brand image and customer experience. Growing channel of choice, particularly for Gen Y. Being able to provide an intuitive, fast and fully integrated mobile banking experience is vital to our customer engagement, and also allows us to continue and deepen engagement with our customers and keep them with our bank. It is becoming a replacement to desktop websites. Customers really demand mobile solutions catered to different devices. Customers should have the choice as to which screen they want to use in interacting with our business. It is essential to offer mobile apps/tools in today's environment.

21. Firms offer mobile services for several reasons

22. Industry leaders identified Note: Larger font = more mentions

23. Firms face significant challenges with their mobile efforts

24. Finance on the go

25. Trends Industry continues to raise the bar Key transaction capabilities are expanding Firms provide research & commentary tailored to their audiences SMS banking transactions are growing

26. Leaders in Banking & Credit Cards • Chase • Consistent service and design across mobile site and iPhone, iPad and Android apps

27. Leaders in Banking & Credit Cards • Chase • Mobile login process/requirements are identical to those used by website • Remote deposit offered through apps • Mobile alerts setup and management • Instant Action Alerts enable simple transfers by text message • Strong customer service

28. Leaders in Banking & Credit Cards • Citibank • One app for bank and credit card access • Extensive credit card account details • Six month account histories with useful sort and filter options • Recently introduced Popmoney P2P payments • iPad app offers innovative graphical displays, educational content and help features • Good customer service options • Basic SMS features for banking and card clients

29. Leaders in Brokerage • Charles Schwab • Multi-platform apps plus a mobile-optimized website • Apps make smart use of landscape mode • Lengthy two-year transaction history • Strong research, advanced full-screen charting • Transfers available on all platforms with remote deposit on smartphone apps • Useful customer service options on most platforms.

30. Leaders in Brokerage • E*TRADE • Apps for all major devices • iPad app features strong modular display with pre-set views • Customizable holdings screen • Lengthy two-year transaction history • Extensive research capabilities • Advanced trading capabilities • Quick Transfer tool • Mobile check deposits • CNBC video for active traders

31. Mobile Banking

32. Mobile Credit Cards * Android Tablet

33. Mobile Brokerage

34. Mobile Asset Management

35. Best Practices Multi-device support a must iPad apps key to mobile leadership Easy login that matches website Space- and navigation-efficient account information Advanced charting (brokerage) Robust trading (brokerage) Remember customer service!

36. Thank You Michael EllisonPresidentellisonm@corporateinsight.com (212)832-2002 x106 http://www.linkedin.com/in/michaelellison @mikeellison @cinsight • Mobile Resources: • Money on the Move: Mobile Finance Review • Mobile Monitor – 1Q 2012 Launch • Corporate Insight Blog