Some leading banks have already seen the number of mobile interactions overtake the number of online interactions. The evolution of mobile devices coupled with rising smartphone and mobile banking adoption is evolving banking customers’ needs and will fundamentally change the way eBusiness professionals need to view technology and customer support. We expect mobile banking to grow rapidly over the next few years, but digital banking teams will have to overcome many challenges to stay on par with Forrester’s projected growth, or risk being left behind. In our recent report The State Of Mobile Banking 2012, we help eBusiness and channel strategy professionals understand the most important trends in mobile banking, including:
Mobile banking will soon be mainstream. Fueled by the adoption of smartphones and the growing supply of mobile banking, the use of mobile banking has grown steadily over the past few years. We expect the number of US mobile banking users to double in the next five years and reach 108 million by 2017 -- 46% of US bank account holders.
Everyday banking relationships are moving to mobile. Consumers are progressing from simply checking their account balances or locating an ATM to making bill payments or transferring money to other accounts on their mobile phones. As that happens, mobile banking is displacing use of other channels like branches and online banking.
Today, at long last, we published our report officially introducing the always addressable customer, though I (andothers) have been talking about it for a while now. Just to refresh your memory, always addressable customers are people who own and use at least three web-connected devices, go online multiple times per day, and go online from multiple physical locations — and it's already 38% of US online adults.
This report was a true collaboration among many people on the Interactive Marketing research team, including Lizzie Komar, who was a pretty new Research Associate at the start of our journey, and who shares her thoughts about the report and its findings in the following guest post:
At a CIO roundtable that Forrester held recently in Sydney, I presented one of my favourite slides (originally seen in a deck from my colleague Ted Schadler) about what has happened r.e. technology since January 2007 (a little over five years ago). The slide goes like this:
Source: Forrester Research, 2012
This makes me wonder: what the next five years will hold for us? Forecasts tend to be made assuming most things remain the same – and I bet in 2007 few people saw all of these changes coming… What unforeseen changes might we see?
Will the whole concept of the enterprise disappear as barriers to entry disappear across many market segments?
Will the next generation reject the “public persona” that is typical in the Facebook generation and perhaps return to “traditional values”?
How will markets respond to the aging consumer in nearly every economy?
How will environmental concerns play out in consumer and business technology purchases and deployments?
How will the changing face of cities change consumer behaviors and demands?
Will artificial intelligence (AI) technologies and capabilities completely redefine business?
Engaging with users via mobile is now unavoidable - no surprise there. By 2016, smartphone subscriptions in the US will likely outnumber people and in Europe, almost 70% of the population will own smartphones. Consumers want simple, immediate, and contextual mobile services.
Mobile offers additional contact options that go beyond the traditional touchpoints you have with a consumer, further embeds your brand into your customers' lives, and, perhaps most importantly, can serve as the central connector between all your touchpoints. The flexibility and immediacy mobile provides enables you to drive customers across and within channels and, at the same time, comes with greater complexity and more need for speed.
eBusiness professionals are at the forefront of this evolution. In order to drive value for your business and your customer, it is critical that you have a systematic, end-to-end approach to support and connect with customers through this critical touchpoint.
After years of fighting for a voice in the organization, eBusiness leaders are finding themselves in the spotlight. Some all-stars command total compensation packages of more than $1 million and others -- like this example from retailer FinishLine -- step into new roles like Chief Digital Officer. We believe that in the next few years many eBusiness professionals will graduate to titles like VP of Digital Strategy and VP of Multichannel Strategy, reporting directly into CEOs or to VPs of Distribution/Channels.
What's driving the graduation of eBusiness out of the halls of IT and marketing and into the C-Suite? Two words -- mobile and multichannel. This is about so much more than apps and in-store inventory lookup. Mobile is finally enabling many of the multichannel programs that eBusiness professionals have evangelized for years. Some eBusiness teams were already serving as digital centers of excellence for business units and product lines and taking ownership of mobile strategies: In a survey of eBusiness professionals, the majority -- more than 70% -- reported that they have responsibility for the mobile channel. But suddenly, all eyes are on eBusiness teams to develop the firms' digital strategies for what were traditionally considered offline channels as well.
I continue to field a steady stream of inquiries about “mobile CRM.” There has been an explosion of mobile devices and applications entering enterprises through corporate-approved channels as well as via employees who bring their own devices to the office. Assembling all the components of a mobile CRM solution to meet the precise use cases for specific types of customer-facing workers requires navigating a complex set of decisions, including:
Application types. Applications can be native (thick client), Web or hybrid (native plus Web), or cross-platform (mobile middleware or rich Internet client applications). Today, developers build specialized thick-client applications that are downloaded onto PCs or mobile devices. But the rise of HTML5 will solidify the browser as a viable local host for applications. With HTML5, the browser becomes a more capable thin client, accessing services on a centralized, cloud-based host.
CRM applications. All of the leading CRM application vendors focusing on large enterprises support mobile access to their applications, and they are racing to upgrade their capabilities to keep up with the new form factors that mobile workers demand. These vendors and their products include Microsoft Dynamics CRM, Oracle Siebel CRM and Oracle CRM On Demand, salesforce.com, and SAP CRM. CRM suite vendors focused on the midmarket, such as CDC Pivotal CRM, Maximizer Software, Sage SalesLogix, and SugarCRM, also have new mobile solutions offerings.
Think you developed a secure mobile app? Think again. Many mobile app developers have a naive notion of app security that leads them into believing their apps are secure when they are not. Some developers authenticate users and encrypt passwords and think that they’re all set, but there could still be security holes so wide you could sail a ship through them. The results of releasing an insecure app can include financial loss, reputation tarnish, lawsuits, and Twitter shame.
When designing your mobile apps and mobile backend services, be sure to consider the six security properties of confidentiality, integrity, availability, authentication, authorization, and nonrepudiation (see Figure below). Simply considering how each security property applies to your app won't make it more secure. You will need to perform threat modeling on your design and find solutions to secure your app based on your specific technology and use cases. Don't forget that the mobile backend services must be secure too.
Watching the Mobile Device Management market is a bit like watching a sneeze. My colleagues Christian Kane and Benjamin Gray are tracking nearly 75 vendors in the space, many of them just a few years old. We've also seen a fresh round of acquisitions as established endpoint management vendors look to shore up their flanks and freshen their portfolios.
Differentiation amongst vendors is hard to come by, as is long-term enterprise MDM experience. And that's what makes LANDesk's acquisition of Wavelink interesting. Mobile Device Management in an industrial or field setting is more than just enforcing passcode restrictions, enabling remote wipe in case of loss, or rolling out software. Companies like Wal-Mart and FedEx have significant portions of their businesses that depend on handheld devices for package delivery, inventory and point of sale. MDM in these settings involves a range of capabilities from diagnosing connectivity and printing issues over the air, to interfacing modern mobile apps to mainframe-based warehouse inventory systems.
Perhaps the best way to describe what Wavelink does is "Industrial MDM". They boast 15,000 customers in 85 countries, and have been in the business for several years. The flagship product is called Avalanche and its historical strengths have been in Windows Mobile environments. They added iOS and Android a couple of years ago and are about to release their 2nd generation release of the same.
Why it makes sense for LANDesk:
Competitive: It gives LANDesk the opportunity to own the IP for MDM technology and positions them differently than other MDM solutions on the market given Wavelink's industrial focus.
I saw this article today on augmented reality. It doesn't use the phone — it uses Google Goggles, but you can imagine it as an application on a mobile phone.
The AR glasses makes the food products you see look bigger through the lenses so users eat less. [See article.] You can imagine more scenarios, though, with a mobile phone along with its processing power and contextual information about the user. If I walk in to a sandwich shop, for example, I can scan the options with my phone to find a sandwich that fits my calorie and nutritional requirements. (I spend a lot of time in airports so would love this). Certainly if I pick up a candy bar, I can read the nutritional information or calorie count.
I go back to trying to answer this question, "how does access to real-time information improve our lives — and not simply addict me to accessing information constantly like checking email or Facebook updates?" Health, wellness, and financial services among others are where I see some bigger opportunities.