Digital Disruption: UK Banking Report

From British Bankers Association -

“Digitisation is changing many industries across the world and altering the way we as individuals and companies operate. Banking is no different.

While banking has been on a path towards digitisation for many years, it is the advent of smart phones and tablet computers that has dramatically accelerated the pace of change. We have gone from almost nobody banking with their phone to millions of people using their apps to check their accounts and make payments every day.”

Read more>>

Radical Bank Branch Design Fuses Digital with Physical

From The Financial Brand –

“As opposed to abandoning bank branches, mBank has decided to completely reconfigure their physical delivery network by using the latest digital technology that is aligned with their award-winning online and mobile banking offerings.”

Read more>>

Mobile money stalls in SA

From IT Web –

“What are the factors that will influence the uptake of mobile in South African banking?

The cost-to-income ratio is debatably one of the most significant ratios in any bank's yearly reports. It indicates how much of every rand earned is used towards the payment of the running of the bank, and therefore, how proficient the bank is in the process of creating value for the shareholders.

One aspect the South African banks are focusing on in their pursuit to improve the ratio is to moderate customer dependence on branches and to urge customers to start using cheaper self-service delivery channels, like the Internet, cellphones, automated teller machines, and mobile money. The banking industry is looking at digital banking services as a resource of reduced operating costs and as an area to use to hold on to customers.”

Read more>>

Is Your Bank CEO a Digital Alien?

From American Banker -

“Digital aliens run banking. And that's a big problem.

Today's banks must be able to market to so-called digital natives — twenty-somethings who grew up with computers in the house, phones in their pockets, and a Facebook page to chronicle their exploits. For them, checking balances and paying bills online is not a convenience — it is banking. They may make the rare branch visit to address a problem, but they'd much prefer handling those issues via FaceTime, if only their banks could get their act together and make that service available.’

Read more>>

A winning mobile strategy

From Banking Technology –

“The mobile revolution is taking the financial services industry by storm. In less than five years it is predicted that the number of mobile phone owners using their device for banking purposes will double to over 1.75 billion. Banks cannot ignore the implications of what this means to their future business models. A mobile-first approach will be essential in leading the way, writes Phil Slavin

That’s not to suggest there isn’t already plenty of activity in the mobile banking space. In 2014, 15,000 banking apps were downloaded every day and Gartner is predicting that 25%of the top 50 global banks will have launched an app store for customers by 2016.”

Read more>>

Apple Pay, Google Wallet Making Inroads, but Consumers Still Not Buying It

From The Street –
“Digital wallet use among consumers may not match the level of the media buzz that greeted Apple Pay when it launched last fall, but the newfangled apps are gaining some acceptance with consumers and retailers.

Apple, Google and the other digital payment providers are not releasing any hard numbers on how many people are ditching cash, credit and debit cards in favor of paying with a smartphone, but early indicators are that some retailers are seeing about 1% of their transactions coming from digital wallets, primarily Apple Pay.”

Read more>>