EFMA’s Study Day “Internet et Mobile” (Paris) – Wrap Up

EFMA’s Study Day “Internet et Mobile” (Paris) – Wrap Up

Efmaparis

After Barcelona and Athens, I was delighted to contribute to my third EFMA event, this time in ParisPhilippe Van Fraechem, Programme Director at EFMA, invited me again to contribute to his study day “Internet et mobile” (28th November 2008).

Philippe asked me not only to share my vision of social media in the banking industry, but also to do a wrap up of his Online & Mobile events in Athens.

It was the first time I delivered my presentation in French. Now I am totally ready for my speaking engagement in Paris next week: I look forward to sharing my vision of social media with an audience made of senior managers at one of the major French banks.

As usual, Philippe managed to organize an excellent event with a strong line up. The audience was essentially made of bankers, insurers, subject matter experts and journalists.

Please find below my comments on some of the topics related to social media and innovation.

Ecureuil Mobile: the importance of innovation
Herve Leroux, CNCE
: Herve understands social media. In one of his slides, he named a few emerging models such as prosper, zopa, mint, and smartypig.

Herve presented the CNCE strategy based on channel convergence. They want to be seen as innovative, which is challenging in a time of crisis. His presentation was essentially focused on mobile banking.

The opportunity offered by mbanking is quite significant: 15million use internet banking and 23% of mobile users visit their bank on their phone. The CNCE target two key segments: youth and senior.

When Herve joined CNCE in 2005, the group didn’t have any mobile offering, whereas most banks in France were already providing a wap service.

Herve was pleased to announce the recent initiative they launched a couple of weeks ago: Ecureuil Mobile.
EcureuilMobile
In their branches, th CNCE started to sell cellphones with their Java applications pre-installed, with a monthly subscription and their own Ecureuil Mobile SIM card.
Please note that the CNCE act as a distributor, not a MVNO.

Are virtual worlds a genuine opportunity to banks?
Gilbert Reveillon, LaSer:
 I really enjoyed Gilbert’s presentation. He is so passionate about virtual worlds. I believe he is currently in China to meet with a few innovative companies in that space, among them QQ.

Gilbert mentioned a study from Gartner saying that soon, 100% of the Fortune 500 companies will have a presencon a virtual world. He also reminded us that 95% of the business schools in North America are on Second Life.

I agree that virtual worlds could offer a good platform to drive collaboration within a global company, and they could be a great tool to drive the co-creation of products. Nevertheless, I am still to be convinced there is a big opportunity for banks.

I see the value if you are the first bank to do something innovative on a virtual world like Second Life: Wells Fargo launched their Stagecoach Island back in 2005, ABN Amro launched their Virtual Holland in 2007, ING & Renault F1 launched a virtual pit, Deutsche Bank launched their Q110 branch of the future earlier this year.

I invite you to watch my video interviews with
Erik Hauser @ SwivelMedia on Wells Fargo’s Stagecoach Island
Justin Bovington @ Riversrunred on ING & Renault F1’s virtual pit
Rick Reesen and Klaus Hammermueller @ IBM on DB’s Q110

I see an opportunity for financial education, recruitment, and collaboration. Whatever your initiative, you have to be entertaining!

MonMobileAdore.com: “forget” the ROI, start experimenting now!
MonMobileAdore
Christophe Houze, MMA:
 Christophe presented MMA’sMonMobileAdore.com, the initiative in the online/mobile space they launched 12 months ago.

MMA launched monmobileadore to make mobile browsing easier.
It is a web portal with over 350 mobile references. You create your mobispace with your favourite links, then you send an sms with a link to your mobispace. Most of the marketing is viral, and they will soon launch a blog to help spread the word.

It is an experiment first, they didn’t make their decision based on the potential ROI which is limited. They want to be seen as innovative, and identify more brand advocates.

Other successful initiatives from MMA
* zerotracas.com launched in 2005 (280,000 tests in 2007)
* Capt’ain de soiree (50,000 users)

Online Banking – Statistics in France: increased usage & confidence
Bernard Dutreuil, Federation Bancaire Francaise (FBF):
  Bernard presented the findings from their annual survey, “l’observatoire IFOP/FBF” (June 2008).

It looks like more and more French people are comfortable using online banking, mainly for its convenience.
I was slightly surprised to find out that more and more people believe that banks do a good job with online security and confidentiality of their data. Nevertheless, online fraud still remains a challenge, and there is no industry standard in France for the authentication mechanism which is still perceived as a competitive advantage.

Online banking
* 64% of bank customers use online banking at least once a week (60% last year)
* 34% never use online banking (36% last year)

Security
* 73% of the respondents find their online banking secure (65% last year)
* 21% find online banking not secure (23% last year)

I invite you to check the following initiatives to drive awareness (in French):
www.protegetonordi.com
www.lesclesdelabanque.com

Wrap up Internet & Mobile (Athens 2008)
Last month, I had the chance to travel to Athens to contribute to the EFMA Online & Mobile events.

If you have a limited budget for conferences next year, I suggest you consider traveling to Paris for the 2009 edition. The format/quality of the events (audience + speakers) is fairly unique & the networking is excellent.

I invite you to check my wrap up of the two events:

Photos – presentations & networking

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