Great Conversations and Best Practices on Mobile Banking, Payments and Social Media...

Great Conversations and Best Practices on Mobile Banking, Payments and Social Media [EVENT]

The European Financial Marketing Association (EFMA) puts together some of the very best events in banking and insurance worldwide.

I contributed to several EFMA events in the last 4 years, such as:
* 2007 – Barcelona – ‘Online Financial Services 2007
* 2008 – Athens – ‘Online Financial Services 2008
* 2009 – Paris – ‘Social Media Revolution and Impact on Financial Services
* 2011 – Paris – ‘Online Banking: e-volution

So I was delighted to be invited to contribute to another EFMA event, this time on ‘Mobile Banking & Payments‘.

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This event was very well attended with over 100 delegates from all over the world.  In my opinion, the quality of the speaker line up and the audience is The USP of the EFMA.  Brilliant.First, a few kudos to:
Julia O’Hegarty for putting together such an insightful event,
Dion Lisle, who was a dynamic chairperson who shared his views on the space from the US, and did an awesome job covering the event on twitter,
* the speakers for sharing so openly with their peers,
* the engaged audience for their questions,
* EFMA’s Operations team who help delivered a smooth conference.Social Media to Drive Mobile Banking
I delivered a presentation entitled ‘Harnessing social media to acquire new customers, co-create, innovate and drive mobile banking’ on the first day of the conference (Paris, 26 September 2011).In my presentation, I talk the audience through my vision of how financial institutions should use social media to accelerate adoption increase usage of online banking.

I covered some of my favourite topics: the Voice of the Customer (VOC),crowdsourcing and Know Your Followers/Fans (KYF).

I shared a few best practices from the likes of FNB (product launch, South Africa), Webank (co-creation, Italy) and Danske Bank (product roadmap, Denmark).

Please note that I didn’t spend too much time on other great examples in the social / mobile space such as Standard Chartered or Banco Sabadell because those innovative financial institutions had some speaking time at the event.

By the way, congrats to Kanags and Xavier Marin who both did a great job representing their teams! Aman Narain and Pol Navarro must be proud.

Your Feedback is Important
If you saw me on stage, I invite you to connect on linkedin.  It would mean a lot to me if you could endorse me and my work directly on my profile.

Social-media-financial-services-60percAnd if you are interested in the topic of social media, I invite you to find more information on my first published book ‘customer experience without borders: a practical guide to social media in financial services‘.

The 240-page book is packed with invaluable insights and best practices from all over the world.

Photo and Video Coverage of the Event
Due to two other speaking engagements in London on 27 September (I contributed to the Financial Services Forum and the Financial Services Club), I couldn’t attend / cover the second day of the event.

But as usual, I did my best to cover the event live on social media channels like facebook and twitter.

I invite you to check my pictures of the event.  Please feel free to tag and/or comment them.
Pictures
And watch this short video to get a feel for the atmosphere.


Good Twitter Coverage

The limited amount of live online coverage has always been a weakness of the EFMA.  This time around, I believe we achieved a decent volume of coverage on twitter.

Even though we are still million miles away from the live twitter and blog coverage of the excellent Finovate events by Netbanker’s Jim Bruene and Eric Mattson, we are (kind of) catching up. 😉

Last week, you could follow the conversations using the hashtag#mobile2011.  As you would expect, this is a popular hashtag. Days after the EFMA event, another US-based event organizer started using it…

Please find below a few stats from last week:
EFMA-Mobile2011-DashboardEFMA-Mobile2011-TweetsVolumeEFMA-Mobile2011-TopUsers

We reached close to 500 tweets: about 55% were ReTweets (RTs), and most of the tweets were published on the first day of the event.

Congrats to the most active tweeps: @EFMA_News@INDGroup@Yakdo,@dionlisle (Dion Lisle, the chairman of the event), @afontao and@desventure007.

I decided to crowdsource my wrap up of this first day.  It seemed appropriate, don’t you agree?  I invite you to find my selection of about 90 tweets for the four sessions.

Mobile ROI: emerging partnerships and business models
Paul Mullins, Global Distribution and Mobile Strategy at HSBC Bank
John Schulte, Chief Information Officer at Mercantile Bank
Sergio Martinez-Cava Camacho, Head of Mobile Service en Bankinter
José Manuel Nistal, Business Development Manager at KPN

Stats and Comments
* Paul Mullins of HSBC “Branch banking reaches 37% of people compared to 50% for mobile”
* Paul Mulling HSBC says banking execs realized mobile Banking is here, when they got iphone. Not Blackberry?
@JohnSchulteGR is talking us through @MercBank’s remote banking value proposition (14% mobile #banking penetration)
* US Mercantile Bank integrated Paypal to its mobile and tablet to make p2p mobile payments
* @MercBank’s @JohnSchulteGR showed us their next gen mobile & tablet apps (J shared his excitement 4 their ‘financial app store’)
* International P2P advantages partnering w/@PayPal (by @MercBank): speed, mobile, cost, PP’s internatnl presence, compliant, risk
* mercantile bank – for a small bank they do tons by partnering with leaders – clever
@JohnSchulteGR shows us @MercBank’s ‘financial app store’. Revenue models: free/fee, customer/white label, in-house/licensed…
* KPN and BankInter are on stage now, yes carrier and bank together at the same time – who woulda thought ?
* check out @infoCaixa’s own financial application store: ‘Caixa Movil Store’ launched in 2009 http://t.co/fcl6AWb0
* Bankinter Spain continously innovates on mobile. Sms, java, mobile internet, touch and native
* Spain’s @Bankinter is committed 2 innovate internally+externally. Check out their innovation labs http://t.co/zSRToA5z
* Bankinter issued own SIM card with Kpn to allow real time usage charges on current a/c?
* Bankinter is selling airtime, phones, internet and dongles to reach new customer segments. Hard value proposition imo.
* Mobile phone usage limit mngmnt is built in to online banking of bankinter
* @Bankinter’s recos partnering w/telco #mvno. Choose the right biz goals & partnership, think mutual benefits, leverage synergies
* Mercantile Bank, innovative, technology-based FI that partners with tech companies vs. building own software. Congratulations!
* Mercantile Paypal partnership does not bring real extra revenue yet
* approx 11% of online Bankinter clients also subscribed to Bankinter Mobile service
* Bankinter: “we think HTML5 is the future”. I agree. Later today I’ll show some examples of what Youtube has achieved with HTML5
* More than %10 of online Bankinter customers are also subscribed to Bankinter Mobile Service

Branching out into mobile banking
Xavier Marín Trujillo, Community Manager at Banco Sabadell
Kanagas Surendran, Programme Manager, Group Remote Banking at Standard Chartered Bank
Claus Hjort Bjerre, Development Director / FVP, Channels at Danske Bank Group
Sebastian Sjöberg, Consultant at McKinsey & Company
Marc Lien, Consultant at McKinsey & Company

Stats and Comments
* @StanChart is 1of the best examples of empowering ur employees w/mobile apps http://t.co/wwsQMZCY #ipad
* Two men and a device (Bell vs Jobs) the revolution has just begun #standardChartered http://t.co/xhuk5A7J
* Biggest change agents in telephony Bell and Jobs, that was a lot years in between these two innovation giants
@kanags’s @StanChartBreeze: 4 things a customer wants to do w/his money / finances: see, move, manage, engage
* Under the leadership of @AmanWhoTweets, @StanChartBreeze has become one of the leaders in #mobile #banking http://t.co/xC23cUxg
* Learn from other industries when it comes to customer experience Standard Chartered says
* @kanags: success in mobile payments won’t B in terms of technology, but biz model. But experimenting on various platforms is key
* standard chartered offers cinema ticket purchase by seat selection within mobile banking
* saving money repackaged in a friendly mobile app by Standard Chartered: smart for the client and good for the business
* Standard chartered breeze living is a deal locator and sharing app #mobile2011
* Recommendations put forth by @stanchartbreeze: Mobile complements online + choose the right technology partners, among others
* 17% of online banking customers are mobile customers at Bancorp Sabadell in 2011, goal is 30%
* Sabadell was the first bank in Spain to integrate to social channels – wow
* Great videos from @BancoSabadell and @standchartbreeze, but do they really drive adoption or used for exec/employee buy-in?
* The second wishlist app from a bank today, retail customers can save for goals
@indgroup online goal-based savings is an increasingly popular service indeed. Thank U @SmartyPig! 😉
* Now Claus from Danske Bank is up – they failed twice at mobile, too early but kept going – must be great senior Mgmt
* Yet another bank talking about collaboration with best technology partners as key success factor in rolling out m-banking
* Danske bank – mobile interface is a dial instead of drop down , cool interface – why does no one else use it?
* 4% of online transaction, 11% of online logons are from mobile at Danske Bank
* Over 2500 people applied for becoming a client at Danske bank through the mobile app. Clear potential for acquisition there!
* Over 2500 people applied for becoming a client at Danske bank through the mobile app. Clear potential for acquisition there!
* Mobile Banking- Evolution or Revolution? Offcourse It’s a Revolution
* McKinsey says most payment innovation is from non- bank payment companies – sad, but very true !
* McKinsey believes in “Mobile First”, but warns banks on disintermediation
* Mobile Banking will fundemantally change retail banking in next 5-10 years.
* survey of bankers found about 11% do not believe mobile will change banking? Who are these people ?
* McKinsey survey shows NFC payments are still on the far future plans of banks
* McKinsey they see clear disconnect between importance of mobile and actual investment – we’ve all seen this too often
* Smartphones are the catalyst for the next revolution in the digital commerce.
* Ultra-convenient mobile banking is needed, no question. But device technology, network or usability does not allow this yet.
* Mckinsey: work + on convenience. Digital commerce, take the bank with you … inside stores. Disrupting new markets.
* A repeating message: banks should build partnerships with telcos, payment providers, cloud services to be successful
* McKinsey: “winners try lots of small bets and multiple prototypes instead of doing one big tech bet”
* My answer: the best go to market strategy is delivering relevant, contextual and convenient content, independent of technology
* Great questions. Go-to-marketing strategy: HTML5 or iPhone app? Danske bank: HTML5 is great, but lacks Appstore distribution.
* Bank wants their own mobile digital wallet, no surprise here. Google stepped up, so banks need to react shortly #mobile2011

Consumer engagement, services and security
Toomas Lindma, Head of online and mobile development at SEB
Christophe Langlois, CEO & Publisher Author at Visible-Banking.com

Stats and Comments
#mobile2011 SEB says you need merchant integration for mobile payments sounds like a duh moment but most folks screw this up anyways
* SEB Estonia introduced wireless PKI solution which is the same Mobile signature solution of Turkcell 5 years ago in Turkey.
* SEB presenting mobile ID: authenticates online banking login through SIM-based app. Great use case of cross-channel integration
* Just as m-banking is not only an iPhone app, success cannot be measured by stars or comments. Useful? Yes. But not m-banking
* Christophe Langlois suggest to structure customer feedbacks online to be able to react on them
* Christophe from @Visible_Banking on stage : showing examples of how to interact with customer generated content. Priceless!
* Just as m-banking is not only an iPhone app, success cannot be measured by stars or comments. Useful? Yes. But not m-banking
* FNB App. as a good example for Product Launch 2.0.  So users share all kind of feedbacks.
* Crowdsourcing a good driver of mob.banking prios (comments, stars, feedbacks like build BB app) according to @Visible_Banking
* Love demo where he pays food with Google Wallet at a drive-thru. Did that work ? :-) t.co/RQ3TFxqi

Future innovations and alternative platforms
Julien Fourgeaud, Bad Piggy Bank Manager at Rovio Mobile
Nazim Erdogan, Internet & Mobile Banking Senior Marketing Manager at TEB
Andrey Doronichev, Head of Product, YouTube Mobile at Google UK

Stats and Comments
* PayPal Now Processing $315 Million In Payments Per Day | TechCrunchhttp://t.co/YGMcNN6IÔÇØ
* Rovio made 51 games BEFORE Angry Birds – perseverance – overnight success took 8 years
* Rovio is now presenting Angry Birds story. #mobile2011http://t.co/kek81uZY
* Angry Birds: bringing mobile payment to the masses, building a virtual economy
* One of the secret of Angry Birds to support multi-level gaming for fast vs. maximalist players #mobile2011
* Angry Birds’ Mighty Eagle sells for EUR 1 with in-game payment on your carrier bill #mobile2011
* Rovio – everything starts with a story + iconic characters + multilevel gameplay = engagement – not just for games – banks ?
* Ultra connected means to play Angry Birds on your iPad in front of the TV. How can banking come to any of the display?
* Turkish bank TEB is “selling loans through SMS”. Looking forward to hearing more about the use cases.
* Andrey Doronichev from Google is presenting Mobile web&mobile apps in the new economy http://t.co/vZbLNKJO
* YouTube 400 million playbacks every day – wow
* YouTube mobile development evaluated mobile platform forecasts, couldn’t get it right, what could play video well – HTML 5 does
* some limitations to HTML 5 – standard is not mature and some device features were not available
* if YouTube can use HTML 5 – I’m pretty sure banks can too – fast, easier to develop and capable of security
* YouTube believes HTML 5 is part of the solution not THE solution – makes sense, no silver bullet yet, but part of the answer

Please note that those tweets were from me and the following 56 tweeps:aenault, afontao, amanwhotweets, aysedemirozer, BankInnovation, Bankinter, bigfafa, cexify, cherylmarquez, desventur007, dionlisle, dobry2000, Efma_news, emel_temucin, EmmanuelViale, estelleneveu, evacastells, ilkerkuruoz, imagdotcom, indgroup, isbecer, jfourgeaud, JinZwicky, JLNieton, justin_fung, kanags, kuojido, Laureenche, majromero, marcushi, mete_gunes, MGR16, MobilePayToday, mobileslate, MyIntersperse, NextBankAsia, norbertsiegers, onemorethompson, Orcun_Onat, pcorominas, PhiloCook, Pole_FIN_INNOV, sahikaoztol, sarahsmile196, sarperA, SophieZG, stanchart, StanChartBreeze, StanChartBreeze, StephenHill27, Steve0253, tek_fin, thebankchannel, tomlindman, xaviermarin, yakdo.

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