{"id":722,"date":"2008-04-16T07:42:43","date_gmt":"2008-04-16T14:42:43","guid":{"rendered":"http:\/\/www.daviddalka.com\/createvalue\/2008\/04\/16\/netfinance-2008-retail-mobile-banking-at-wells-fargo-eskander-matta-senior-vice-president-internet-services\/"},"modified":"2009-12-31T23:42:22","modified_gmt":"2010-01-01T04:42:22","slug":"netfinance-2008-retail-mobile-banking-at-wells-fargo-eskander-matta-senior-vice-president-internet-services","status":"publish","type":"post","link":"https:\/\/www.daviddalka.com\/createvalue\/2008\/04\/16\/netfinance-2008-retail-mobile-banking-at-wells-fargo-eskander-matta-senior-vice-president-internet-services\/","title":{"rendered":"Net.Finance 2008 – Retail Mobile Banking at Wells Fargo: Eskander Matta, Senior Vice President, Internet Services"},"content":{"rendered":"

Mobile phone penetration in the US is now 95%+ and data plan penetration is now 50%+<\/p>\n

Modalities: \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 Usage\u00a0\u00a0 Capable phones
\nTexting \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0 50% \u00a0\u00a0\u00a0 100%
\nMobile Browser, \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 25%\u00a0 \u00a0\u00a0\u00a0 >60%
\nDownloadable Application\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 17% \u00a0\u00a0\u00a0\u00a0 >60%<\/p>\n

Application download cons are pretty significant \u2013 carrier control, downloading, device management, etc<\/p>\n

Browser cons \u2013 sign-on, complex navigation, lack of awareness<\/p>\n

SMS text message cons – Simplistic UI, Security, Plain Text<\/p>\n

Distributing services in the mobile ecosystem requires a highly complex series of relationships.<\/p>\n

Wells Fargo and external<\/a> research shows that there is adoption interest.<\/p>\n

Most frequent uses presently: checking balances, fund transfers and activity monitoring<\/p>\n

Browser usage presently 2.5 times per week, 66% active users (last three months)<\/p>\n

Text banking \u2013 83% of all mobile banking enrollees are including the text banking service. Sending 19 text messages a month overall, becoming more engaged with the accounts overall.<\/p>\n

Mobile Contactless Pilot with Visa\u2026<\/p>\n

Mobile delivers strategically \u2013 when, where, why and how?<\/p>\n

What is the potential value?
\nCustomer retention, reducing servicing costs by controlling call center calls, reduced risk and fraud, customer acquisition and usage revenue (P2P, Panic Play, Mobile Contactless, etc)<\/p>\n

Security order: SMS, Browser, Application<\/p>\n

Mobile customers slant towards a desirable demographic overall due to the very fact they are heavy mobile users.<\/p>\n

Future state is for SMS, application and browser to be ubiquitous and the three will be tightly integrated.<\/p>\n

Well Fargo is trying to build usage of the channel, not charging for the service at this time. Getting techno-savvy users so servicing has been minimal.<\/p>\n

Reaction: I’m highly impressed with the full deployment of SMS, Browser and Application download models as they will be fully able to determine which best meets customer needs based on actual usage data. I chatted up Eskander afterwards and he’s a joy to speak to.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mobile phone penetration in the US is now 95%+ and data plan penetration is now 50%+ Modalities: \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 Usage\u00a0\u00a0 Capable phones Texting \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0 50% \u00a0\u00a0\u00a0 100% Mobile Browser, \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 25%\u00a0 \u00a0\u00a0\u00a0 >60% Downloadable Application\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13,28],"tags":[],"class_list":["post-722","post","type-post","status-publish","format-standard","hentry","category-customer-experience","category-mobile-lbs-sms"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t