MOBILE BANKING Putting customer service back in customers hands DO BUSINESS BETTER

Transcription

1 MOBILE BANKING Putting customer service back in customers hands DO BUSINESS BETTER

2 INDUSTRY OVERVIEW Banks are seeking means to leverage the power of mobile phones as a cost-effective distribution channel that can deliver broad-based financial services like trading, lending, and wealth management. However, customer concerns around transaction security and challenges related to multiplicity of form and access mechanisms have stymied its growth. banking customer base in the US has grown from 12 million in 2009 to 26 million in 2011, and is estimated to reach 77 million by At Wipro, we believe that this is just the beginning. We hold the view that while financial institutions have limited their focus on basic retail mobile banking, several customer segments and solution possibilities remain to be explored. Figure 1 below depicts Wipro s view of the industry: INDUSTRY HIGHLIGHTS By 2015, one in five US adults will be using mobile banking Value of mobile payments to grow at a CAGR of 68% between 2010 and 2015 NFC based payments expected to be worth $820 million in 2013 P2P payments market to touch $14 billion by 2015 from $2 billion in 2011 Corporate/ Large Organizations Small Medium Businesses Retail Customers Alerts Alerts Alerts Basic Model FX Rates Card Servicing UC Payroll Card Servicing P2P Payments Personal Finance Management Positive Pay MoIP Coupons Remittance Wealth Management OD Alerts SME ipad Branch Queue Busters Corporate ipad Auto Dealer Loan Origination Trading Proximity Payment Card Acceptance Title Check/ Data Validation Expedited Bill payment Customer Service Oriented Revenue Generation /Cost Reduction Cost Saving Revenue Generation Phone size indicates relative opportunity potential

3 How Can Wipro Help? Wipro has worked extensively to provide mobile banking solutions to customers. We have deployed basic retail banking and mobile trading applications and developed transformation roadmaps, provided competitive analysis and consulted on features, access control and security issues. We bring value through our dedicated team of qualified professionals and domain experts. Figure 2 provides a snapshot of the work done by Wipro in the mobile banking space: Deployment of Solution iphone based Sales Dashhboard iphone/ipad based brokerage solution Tablet based solution for account originating Wipro s Experience iphone based for SMB Customers PFM on iphone Application Testing Channel Transformation and Roadmap DEfinition for one of the large banks in the US.40% reduction in Roadmap definition time. Deployment of Solution for a top 10 US based Bank. Support for all major channels SMS, WAP and downloadable Applications Competitive Analysis for banking for one of the largest cardissuers and banks in the US. Consulting on features, access and customer facing security features for Trading Platform for a leading financial institution in the US. features in the solution included-market watch, buy/sell, quotes, contract information, dashboards and reports

4 Our Service Offerings Wipro provides a wide spectrum of services ranging from mobile channel visioning and roadmap creation to deployment of mobile solutions and complete support to manage the mobile ecosystem. Figure 3 below summarizes our key service offerings: Service Offerings Channel Visioning, Roadmaps, Reqd 3rd Party Testing Managing the Eco-System Customer Support Develop Helpdesk Support Sustain Solution Components Security Testing A Snapshot of Our Services Advisory Services Accelerators and Productized Services Associated Services Domain Consulting, business consulting, transformation services Technology architecture consulting banking product evaluation Managing the mobile ecosystem Smart mobile banking for small & medium businesses mobiles nance management on Card servicing on mobiles couponing Wealth management solution Application development and maintenance Testing services Security testing services Application/product support and enhancement Governance, risk and compliance for mobile banking Help desk support

5 Advisory Services relates to domain consulting, business consulting, transformation services and technology architecture consulting. A focus on mobile banking allows our consultants to provide services related to identifying and defining business requirements apart from package evaluations, consulting on build vs. buy decisions, articulating the vision and defining the business case for transformation. We also create blueprints for target operating model, define business architecture, support process engineering and develop business implementation roadmaps. Accelerators and Productized Services help our customers ensure accelerated delivery of solutions by cutting the time-to-market. The services include mobile banking platforms and proactive solution initiatives: Smart (SMB): A comprehensive solution with features such as positive pay, expense claim, payroll management and remote deposit capture. It has full capabilities across the mobile banking lifecycle and provides a range of banking services such as relationship summary, money transfer, positive pay and ATM locater. It supports key smartphones and tablets such as iphone, ipad, Blackberry and those operating on the Android platform. Personal Finance Management: A solution that provides a consolidated view of the customer s entire financial portfolio via the mobile device. It also uses analytics to advise customers on their buying decisions by suggesting payment options like loans or hire-purchase. Card Servicing via : The solution allows customers to control their card-related transactions/features over the hand phone. Users can view card statements, previous transactions and balances, report a stolen card, change the PIN number and call customer care. It also enables customers to generate a virtual card for online use. Couponing: This application shows the coupons available with the card holder based on their current geographic location. Wealth Management on Tablets & Smart Phones: The two complementary applications address the needs of wealth management advisors and their clients. Our Partnerships with key mobile platform organizations help Wipro accelerate the development of mobile solutions and provide mobility platforms to our customers. Industry Challenges & Wipro s Solutions Banks and financial service providers constantly seek newer and cost-effective ways to leverage mobile services to enhance their client-base, improve process efficiencies and enhance speed-to-market of their products and services. Our focus areas and the solution approach to the industry s current challenges are represented in Figure 4 and Table 1 below: Efficiency Improvements Extending WIPRO S FOCUS Accelerate Time to Market Revenue Generation Focus on Smart Phones and TCO reduction

6 Wipro Solution Domain Revenue generation Efficiency improvement Accelerate time to market Key Challenges Financial institutions use mobility to establish market presence and gain customer mindshare. They are yet to perceive mobility as a means to generate additional revenues. Financial institutions are under pressure to optimize internal processes in the changing environment. In the fast-paced world of mobile development, financial institutions must bring applications to the market quickly to stay ahead of competition. Wipro solutions like smart mobile banking help small and medium businesses generate revenue. It also demonstrates how financial institutions can leverage the mobile channel to evolve from a financial services provider to a business process optimizer. Wipro has created multiple points of views and solution concepts on using mobility to optimize processes for these stakeholders: Bank to Employees: Tablet for branch process improvements, mobility for relationship manager processes Bank to Business: Corporate mobile banking, mortgage banker and mortgage broker mobile applications Bank to Extended Enterprise: Solutions for appraisals, field-based asset verifications & lease management Wipro has created multiple points of views and solution concepts on using mobility to optimize processes for these stakeholders: Bank to Employees: Tablet for branch process improvements, mobility for relationship manager processes Bank to Business: Corporate mobile banking, mortgage banker and mortgage broker mobile applications Bank to Extended Enterprise: Solutions for appraisals, field-based asset verifications & lease management Smart Phones & Reduce TCO Extend Financial institutions need to support key smart phone platforms to ensure customer acceptance of their mobile offerings. They have realized that the initial release of the mobile application is just the first step of a long process that involves multiple upgrades, application store & carrier testing and functional improvements. Banks are yet to extend their mobility efforts beyond retail banking to cover other segments. Wipro provides offerings that facilitate faster go-to-market. These include: Pre-built solutions like smart mobile banking for small & medium businesses, applications for lease management & card servicing, solutions for wealth management & personal finance Partnerships with key mobile development platforms Antenna, Kony, Sybase/SAP and Syclo Our 1,250 consultants have experience spanning capabilities like development, usability, and testing & lifecycle management. Wipro s competency and experience covers all key smartphone platforms like the ios, Android and BlackBerry. In addition, Wipro has created HTML5 competencies and uses it along with allied technologies like PhoneGap. Our dedicated development center in Atlanta GA performs near-shore development and carrier testing of mobility applications. Wipro has created a comprehensive solution that focuses on small business mobile banking and is now extending it to corporate mobile banking. Wipro is also developing mobile solutions for wealth management advisors and clients.

7 Success Stories A few of Wipro s key success stories in this domain are listed below: Defined the mobile roadmap for a large US bank Personal finance on iphone for a global financial conglomerate The customer faced challenges owing to an inflexible platform and a dated legacy suite. It had multiple disparate platforms running third-party applications. The messaging process generated text from the core system and dispatched it from the host. Wipro s solution defined a roadmap to replace the legacy platform with a long-term solution that would assist increased adoption of mobile banking. The solution reduced roadmap definition time by 40% and ensured uninterrupted customer capability, while balancing time-to-market with customization efforts. The customer was looking to provide bespoke wealth management to its clients and extend the solution to iphone users. Wipro defined and developed the application and created an iphone mobile client that was certified and deployed. The solution improved customer loyalty and helped exploit native iphone capabilities like accelerometer, graphics and audio while planning and managing the client s wealth. trading platform for leading financial services company The customer sought to provide trading facilities in equities and commodities across mobile platforms with features like market watch, advisories, quotes and dashboards. on our extensive experience in the securities domain and large e-mobility practice, Wipro evaluated the client s needs and recommended a platform to set up a device-and-operator independent application. The solution could support all types of mobile devices with a rich user interface. money market compliance approval via BlackBerry The customer wanted a mobile money market compliance approval mechanism for BlackBerry smartphones. Our solution provided dynamically generated notifications for scheduled roles assigned by the workflow process based on pre-defined parameters. Besides offering offline form submission options to clients outside coverage area, the solution enabled content push to the BlackBerry browser. It allowed the clients to handle workflow actions in real time on the move and helped them track and close activities within stipulated timelines. banking competitive analysis for a US card issuer The customer required a mobile security strategy and roadmap. Wipro s team compared mobile banking features of the top 5 US banks including those related to information availability and access, user adoption and technology support. Our comprehensive recommendations helped the bank speed up its decision making process over defining and implementing a mobile channel strategy. The solution reflected our expertise in mobile technologies, security and banking domains. Lead management & application capture system on a tablet The customer was looking to streamline its lead management process to enable reduction of manual intervention, improve contact management and enable direct sales agents to capture and submit e-applications from remote locations. Wipro designed and developed a tablet device-based application that allowed agents to upload and download lead application data from host systems. The solution helped our customer improve contact ratios and cut TAT across the lead management cycle.

8 WIPRO BANKING AND FINANCIAL SERVICES Wipro s Practice has partnered with over 50 of the world s leading banks including 4 of the top 5 banks worldwide as well as leading banks in the Asia Pacific. Our expertise across retail banking, enterprise banking, investment banking, regulatory risk and compliance, mobile banking, channels, payments, lending & mortgages and wealth management address transformational changes for our customers. Our solutions on cloud, mobile, social computing and analytics enable our customers to build a bankable future. ABOUT WIPRO TECHNOLOGIES Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of Business through Technology helping clients create successful and adaptive businesses. A company recognised globally for its comprehensive portfolio of services, a practitioner s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over 130,000 employees and clients across 54 countries. For more information, please visit or mail info@wipro.com DO BUSINESS BETTER NYSE:WIT OVER 130,000 EMPLOYEES 54 COUNTRIES CONSULTING SYSTEM INTEGRATION OUTSOURCING WIPRO TECHNOLOGIES, DODDAKANNELLI, SARJAPUR ROAD, BANGALORE INFO@WIPRO.COM, TEL: +91 (08) , FAX: +91 (08) North America Canada Germany Switzerland Austria Finland Portugal Japan Singapore South America United Kingdom France Poland Sweden Benelux Romania Philippines Malaysia Australia China South Korea New Zealand Wipro Technologies IND/UNPL/JULY2011-DEC2011