Mobile Banking Innovation In Europe

Aurélie L'HostisThis is a guest post from Aurélie L’Hostis, a researcher serving eBusiness & Channel Strategy professionals.

In a world that’s constantly on the move, more and more Europeans appreciate that the phone in their pocket can do more than just cruise the Internet, check the weather forecast, and shoot disgruntled birds into space. For mobile banking now offers a secure and convenient way for customers to do their banking ... all in the palm of their hand.

As mobile banking adoption maintains its steady growth in Europe, customer expectations for functionality within mobile banking apps continue to increase. Customers now want quick access to their accounts 24/7, the ability to perform a range of transactions with only a few clicks, and a way to manage their money directly on their smartphone. Over the past year, European banks have focused on trying to keep up with the demands of these increasingly sophisticated mobile banking users. The result has been a plethora of improved functionalities and exciting innovations in European mobile banking. We used our Mobile Banking Functionality Benchmark methodology to evaluate the retail mobile banking offerings of eleven European retail banks from France, Germany, Italy, the Netherlands, Spain, Poland, and Turkey. Here are some of the highlights:

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Q&A With Oliver Bussmann, Group Chief Information Officer, Group Managing Director, UBS AG

In advance of next week’s Forrester’s European Forum For Technology Management Leaders in London (June 12-13), we had an opportunity to speak with Oliver Bussmann, one of our industry keynote speakers, about digital business and how UBS is responding to the challenges of digital disruption and to rising customer expectations.

Oliver Bussmann joined UBS in June 2013 as Group Chief Information Officer (CIO), responsible for the Group Technology organization. As Oliver will explain in his presentation on day 2 of the Forum, digital business transformation success in his view hinges on three key factors: A joint and strong partnership of IT and the business working together; creating a culture of innovation and entrepreneurship; consistent and authentic support of senior leadership to demonstrate by example that this transformation is real, necessary and appreciated.

I hope you enjoy Oliver's responses as much as I did, and do join us on June 12-13 to hear the full story!

Q: What is your agenda as CIO at UBS?  

As CIO my job is to position IT as a business enabler, this involves understanding the firm's strategic priorities, and ensuring we strike the right balance between (1) managing the traditional IT functions to ensure a cost-effective, reliable and secure infrastructure and (2) focusing on strategic IT, driving transformational change through innovation, to increase revenue opportunities and deliver real value to our business.

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European Online Retail Sales Continue Double-Digit Growth, Spurred By Mobile

This morning when I woke up, one of the first things I did was pick up my iPhone. It’s increasingly part of my morning ritual – whether its checking the weather app for the day’s forecast or using the Starbucks app to pay for my morning coffee on the way to work. And I am not the only one. Forrester forecasts that European online retail sales will increasingly come from sales completed on mobile devices like smartphones and tablets.

 Forrester has now updated its  Western European online retail sales forecast for 2013 to 2018, which plots the growth rate of online sales across 17 European countries and 22 categories. Key takeaways from the forecast include:

  • European online retail sales will continue their double-digit growth through 2018 with a CAGR of 12% from 2013 to 2018, resulting in an online retail market worth €233.9 billion by 2018
  • Southern European markets will grow faster than Northern European markets as they continue to mature. However, the more mature northern European markets are larger online retail markets overall.
  • Online retail sales will be increasingly from mobile devices. Just under half of all online retail sales across the EU-7 will be from online purchases made using a smartphone or tablet by 2018
  • The online grocery category will grow at the fastest rate through 2018 and will surpass consumer electronics to become the second-largest online category in Europe by 2018.
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