The incentive for operators to assume responsibility in the provision of mobile banking services is undeniable. Given the decline in Voice ARPUs and the prime positioning of banking as a touchstone for m-commerce development, operators must reposition themselves as value-added service enablers. The security and the trust engendered by payments incorporating Public Key Infrastructure (PKI) [...]
Thursday, January 29, 2009
The Egg service plans to introduce a price comparison service between online stores, as well as allowing WAP access to the Egg shop. The First-e WAP service was launched in May 2000 and is the only WAP service that requires users to have their own ISP account. This has the effect of divesting the bank [...]
Thursday, January 29, 2009
The degree to which banking services will be compromised by non-banks can be gauged by the extent to which components of banking infrastructure have already outgrown bank control. For example, in the USA, more than two thirds of credit accounts are handled by non-banks. As for the specific question of m-payment development it is worth [...]
Saturday, January 10, 2009
Multichannel delivery is a difficult service to deploy since it requires the coordination of disparate back end systems, the collection and analysis of customer information as well as device/security issues. - Partnerships with operators that allow early visibility in a hitherto `closed' market model that is expected to give way to the current fixed internet paradigm of open access. Other mobile content providers offer partnership potential through large fixed internet customer bases. Models include: - Closed: all banking services are under the control of the service provider, currently the operator. Users are unable to access the service outside the `walled garden' of the operator.
Thursday, January 8, 2009
The future of banks has been subject to scrutiny since the internet accelerated the potential for disintermediation - the demise of traditional retail channels. The speed to market inherent in the development of electronic delivery channels involves a `launch and learn' attitude antithetical to the end-to-end certainty that banks possessed in their customer relationships. Traditionally banks have leveraged their unique regulatory position as deposit takers and their access to payment gateways to strike deals with suppliers and corporate customers. Relationship ownership is under siege in the mobile channel and banks fear the repercussions of relegation to the back of the value chain. The construction of the mobile channel for banking services disrupts banks' customer control--issues to be confronted include:
Monday, January 5, 2009
Although this post aims to emphasize the cooperation between banks and operators that characterizes the development of the mobile channel, focus will be maintained on basic banking services and mobile payments only. As such, this embryonic stage of mobile commerce activity can be better assessed by appropriating mobile banking within banks' multi-channel distribution mix, while m-payments, the key enabler for mature mobile functionality, emphasizes the need for partnership (between bank, operator and credit card company) so vital to m-commerce deployment. Indeed, m-payments offer greater potential for differentiation: the prospect of the wireless wallet supersedes the basic offer of mobile banking, which is often an extension of a bank's internet channel. By the end of 2008 just under half of Europe's top financial services are anticipated to offer mobile services, with roughly 35% in Asia Pacific. All markets have witnessed early adopters, although development considerations in terms of technology (SMS, WAP, XML) and device (mobile terminals, handheld devices, PDAs) render mobile banking a non-standardized application.
Friday, January 2, 2009
Mobile banking, together with telephone banking, fixed internet banking and TV banking, equates to remote customer access. The latest addition to banks' delivery channels, it is viewed as both an extension of a bank's web presence and a unique value proposition in its own right due to the convergence of mobile communications and the internet. Key drivers for mobile banking are...
Sunday, March 15, 2009
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