Mobey Forum, one of the oldest bank lead industry collaboration forums, opened the doors to the latest development in Mobile Financial Services ecosystem. At MobeyDay 2012 in Barcelona (http://www NULL.mobeyday NULL.com), the forum also opened the doors to non-members for the first time with Finextra, independent information source and newswire for financial technology. The “secret society” became public. Increasing the value of the event if you ask me. During the event we touched upon areas from mobile wallet to next mobile banking killer app and security requirements.
Mobile banking – service innovations
Host for the event was 3rd largest Spanish bank La Caixa, also acknowledged as one of the leaders in mobile banking in Europe. David Urbano Martin, Mobile Service Director of La Caixa presented latest mobile services the bank has introduced or is about to introduce. Key learning for me is that mobile banking is not a question about technology maturity or platform choices. It’s about new service innovations that banks can provide to their customers.
La Caixa introduced their innovation initiatives: E-nnovate tool for crowd sourcing, using social media for learning from customers and 24h FinAppsParty event (http://press NULL.lacaixa NULL.es/caixabank/press-releases/la-caixa-organises-the-first-finappsparty-in-barcelona-to-attract-talent-to-mobile-banking-development__1775-c-15176__ NULL.html) to innovate and build concept prototypes. Revolutionary? Not really, sounds quite similar to methods we are using in Tieto with our customers such as co-innovation, Eureka innovation tool and process (http://www NULL.youtube NULL.com/watch?v=1PhHREODo4w), or mobile camp for Fast Track service design.
Mobile payments – moving slowly
Not much news on this front. The battle between mobile vendors, merchants and multiple service providers continues. This includes battle for point of sale (POS) communication technology (proximity, remote or combination of both? NFC or 2D Barcodes?), battle for secure element on device (UICC SIM, embedded or SD card?), battle for payment account, battle of interfaces (provided by the banks, Google, other?). Until these are solved, we consumers must wait for using our mobile phones for paying at the retail POS. Since no single player in this ecosystem can solve this alone and we still talk about business models, it is unfortunately hard to expect results quickly.
Next mobile “killer app”?
Mobile wallet was on top of the discussions as the next mobile killer app. Will it be solved by the banks, regional service providers or Google remains to be seen. There is no clear answer neither on the content of the wallet. Just an electronic version of physical wallet that consumer can start filling in with payment instruments and loyalty cards? Or packed full with value-added services for consumers?
What are the other killer apps then? One application had clear statement from the forum. Using mobile as media for pushing more personalized commercial messages. Right message, right time. Revolutionary? Not really, sounds quite similar to our Pocket Bank concept from our collaborative research program with Nordea, Nokia and Aalto University.
Mobey Forum (http://www NULL.mobeyforum NULL.org/) moves forward – next to Belfast. Prior to that, Tieto experts can be reached e.g. at WIMA (http://www NULL.wima NULL.mc/2012/content/Home-page/welcomeUK NULL.php), the world class event focusing on NFC technology and solutions utilizing NFC.