Potential of Mobile Technologies in Financial Services ?· Potential of Mobile Technologies in Financial…

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  • Potential of Mobile Technologies in Financial Services13th July 2011

    Nitin Agrawal nagrawal@sapient.com

  • 2 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Agenda

    Topics Duration

    Mobile Applications in Financial ServicesMobile device, user interaction possibilitiesMobile Financial Applications

    15 mins

    Making mobile strategy successful in FS WorldMaking right application choiceMaking right device, technology choicesManaging technology challenges

    15 mins

    Sample Retail Banking Application 10 mins

    Q & A 5 mins

  • 3 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Future of Mobile Applications in Financial Services

  • 4 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Enabling more innovation and usage

    Mobile user, device interaction possibilities

  • 6 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Retail Banking

    Mobile Walleto M-Pesao PayPal BUMPo Contactless Payments

    Interactive marketingo Location/mode based information

    about surroundingso QR-based Interactive advertisements

    Mobile Applications in FS

  • 7 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Tablets are enabling heavy-duty applications!!!o Bigger screeno Fasto Richo Collaborativeo Portable

    Financial Advisoryo Wealth Managemento Retirement planningo Insuranceo Mortgage advisor

    Self-service toolso Stock tradingo Institutional Research, data and

    analyticso Financial Statements Analysiso Collaboration

    Mobile Applications in FS

  • 8 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Making Mobile Strategy Successful in FS World

  • 10 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    are high performing &

    secure

    are available anytime

    are reliable and made in high

    quality

    VERY intuitive

    More touch/select,

    less typing

    Solid Data Visualization and

    Information Architecture

    Integrated with other channels

    Not a scaled-down

    website

    Good mobile applications characteristics

  • 11 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Making right device, technology choices

    Is Reach your goal and business case is evolving? Mobile Web Apps Is Stickiness your goal and business case has matured? Native Apps Does app require heavy-duty data processing/analytics/visualization? Tablet Apps

    MAINSTREAM TECHNOLOGY OPTIONSTechnology/Platform Positives Deltas

    NAT

    IVE

    APPL

    ICAT

    ION

    S Cocoa, Objective C

    + Always leads UE "paradigm shifts"+ Hardware, OS, programming env. all by Apple+ Good security, UI model+ Good IDE support for app. development

    -More sophisticated dev. skil lset required tedious development- Doesn't allow plug-in based RIA applications (flash, si lverlight)- Apps need to be deployed through Apple AppStore impacting agil ity

    Java-based SDK Dalvik VM featuring JIT

    + Wider userbase coz of pricing+ Open-source - wide community to accelerate rollout of new features+ Allows Flash and Silverlight based RIA

    - Highly fragmented. 160 odd devices- Not-so-powerful IDE- Uncontrolled download of apps. leads to security issues-Compatibil ity across devices and different versions of androiddifferent OS for phone and tablets

    .NET/Sliverlight+XNA

    + Good IDE, skil lset easy to find+ Strategic partnership with Nokia has put it sl ightly ahead of RIM in terms of Developer mindshare+ Uses "l ive ti les"

    -Late to catch the bus-Small user base leading to ROI concerns

    MO

    BILE

    WEB

    AP

    PLIC

    ATIO

    NS

    HTML5/CSS3/jQueryMobile,PhoneGap

    + High agil ity - ease and speed over market opportunity and customer demand+ No limitations w.r.t. upgrades+ Provides for host of features l ike offl ine mode, multimedia, fi le-access, geo-location, graphics, storage etc. Gap is further reduced by jQueryMobile/DojoMobile + PhoneGap combine

    -Look'n feel and performance is not as great as native applications- Some OS are not yet supporting HTML5 browsers- Browser frameworks are sti l l evolving- Design patterns for mobile web development are evolving

  • 12 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Managing Technology Challenges

    Challenges Ways to Manage

    Securing data on device MDM solutions: Good Technology, Odyssey, SOTI Automatic conditional, scheduled, on-demand fading Encryption algorithms like AES and ECC for removable storage

    Securing data transfers Server-distributed SSL certificates

    Securing high risk transactions

    2FA tokens 2 Factor Authentication H/W, Mobile, SMS3D SecureSSL certificates

    Device sizes, form factors Use native controls as much as possible

    Limited battery backup Reduce server polling by using push notifications

    Limited native UI controls Develop custom controls catering to different application genres

    Support for data availabilityin offline mode

    Cache/save frequently on the device locally

  • 13 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Retail Banking Application Demo

  • 14 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Mobile Banking Application

    Concept application demonstrating how far HTML5, CSS3 and OOJS can be pushed without loosing on interactivity

    Behaves very much like a native applicationo Touch

    o Custom control library mimics native controls such as navigation items, tool bars and pickers (wheel)

    Built using custom OO JS framework

    Design Patterns Leveraged: Single-page application with a

    manifest footprint of 200k

    Ajax calls - JSON-based data-only server calls

    Minimum usage of images -leveraged CSS3, Canvas wherever possible

    As mobile processors are too weak, animations, fade-in fade-outs were managed using Webkit CSS transition

  • 15 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Q&A

  • 16 COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

    Thank You!

    Potential of Mobile Technologies in Financial ServicesAgendaSlide Number 3Mobile user, device interaction possibilitiesMobile Applications in FSMobile Applications in FSSlide Number 8Good mobile applications characteristicsMaking right device, technology choicesManaging Technology ChallengesSlide Number 13Mobile Banking ApplicationSlide Number 15Slide Number 16