How to Manage Your Money on the Go

Anytime Anywhere Banking with BB&T Mobile & Alerts

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About the Speaker

Sumit Deshpande is a Vice President with BB&T and manages the Mobile & Messaging product group. His team was instrumental in developing and rolling out alerts and mobile banking services to BB&T clients and leads ongoing efforts to deliver new self-service solutions. Sumit has an extensive background in strategy, product development, and solution delivery across several industry verticals, including financial services. He has presented seminars and keynotes at several industry events including Mobile Business Expo, Wall Street Technology Association, CTIA, E-Gov NC, and more. Sumit has a graduate degree in computer science and information systems from Marist College in New York.

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Agenda

• Introduction: We are a mobile society• Financial Management – a top priority• The tools

– BB&T Mobile Banking – BB&T Alerts

• Case study• Security tips• What BB&T Mobile can do for you

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We are a Mobile Society• Almost everyone has a mobile phone

– 88% of the U.S. population owns a cell phone1

– 65 million smart phones will be purchased in the U.S. in 20102 and will account for the majority of cell phones sold in the U.S. by the end of 20113

– More affordable/more functional• Motorola DynaTAC (only voice, no camera, data or SMS)

cost $3,995 in 1983• iPhone 4 (32G) costs $299 in 2010

• It’s personal and indispensable– Six out of ten mobile users sleep with

their phone nearby and 70% use their phones as an alarm clock4

– Lost wallets are reported within 26 hours; lost mobile phones are reported in two hours or less5

• We use mobile services…a lot!– Over 1.5 trillion text messages sent or received in the U.S. in 2009,

and presently over 5 billion text messages per day 6– Over 500 million people accessed the Internet from their mobile

devices in 20097

– Over 10 million people used mobile banking in 20098

– 50% of young adults today never use a land line9

Sources: 1-Frost & Sullivan; 2- Canalys 2010 estimate; 3-Nielsen; 4- Nokia study; 5-Unisys study; 6-CTIA Survey, Mar 2010; 7-http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats; 8-Tower Group study; 9-N&O Raleigh

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Financial Management is Top Priority for Individuals and Businesses

• I want more control over my finances– I want to know how much I have, how much

came in, how much left, and I don’t want any fees

• I want the convenience of banking during off-hours– If I want to transfer money on a Sunday, I

should be able to do it• I want more choices when it comes to

interacting with my bank– Branch, ATM, Phone, Online, and Mobile

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BB&T Mobile Banking

• Free access to banking and financial services through a mobile device– Look up account balances

• Checking & savings• Loans & mortgage• Credit card• CDs, investments, and more

– Transfer funds– Locate branches and ATMs– Pay bills

• Utilize multiple mobile technologies– Text messages (SMS – Short Message Service)– Mobile Web browser– Mobile app for smart phones

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How to Enroll for BB&T Mobile

1. Log on to BB&T OnLine

2. Click on the “BB&T Mobile” link

3. Register your mobile device and set your mobile account nicknames in the BB&T Mobile Preference Center

®

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Choosing Your FlavorI have a feature phone and I text a lot, but no data plan

I have a data plan and browse the Internet with my phone

I have a Smartphone with text and data plans

BB&T Mobile TextSend text commands* to 69228 (MYBBT) and receive the appropriate response

BB&T Mobile WebLog on to bbt.mobi on your phone browser

BB&T Mobile AppDownloadable app for iPhones & BlackBerry

Note: While BB&T’s mobile banking services are free, your mobile carrier may charge for text messages and mobile Internet usage

*BB&T Mobile Text commands include:

BAL (view balances), LAST (view recent transactions), TRA (transfer funds) <from acct> <to acct> <amt>, INFO, HELP, STOP, START, MORE

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BB&T Alerts & Notifications

• Stay informed about your balances and any activity on your account – Free with BB&T

OnLine®

– Set preferences and thresholds

– Receive alerts via email or text messages

– Get them in the format of your choice

– Use with BB&T Mobile to respond to events on your account

Type Examples

Account Alerts •Balance Updates (Daily or Weekly)•Low Balance•Zero/Negative Balance•Credit card balance approaching credit limit

Transaction Alerts

•Debit/Withdrawal Threshold•Deposit Threshold•Checks cleared•Credit transactions over a preset limit

Informational Alerts

•E-Statements posted for viewing•Stock Quotes•Payment due date (Bill Payment, Credit Cards, etc.)•Marketing & promotions

Service Alerts •Change in online profile (user name, password, email, etc.)•Fees charged (Overdraft, Non-Sufficient Funds, etc.)

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How to Enroll for BB&T Alerts

1. Log on to BB&T OnLine

2. Click on the “BB&T Alerts” link

3. Register your mobile device and/or email and set up your alerts, thresholds, quiet times, and destinations in the BB&T Alerts Preference Center

®

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Case Study: Handy Hank Keeps His Business Moving• Indoor Handyman services

– plumbing, electric and HVAC

• Competitive advantage– Expertise in multiple services– Good local reputation

• Small company, small staff– Wife helps out with accounting, scheduling, and placing orders

for supplies– One full-time assistant – Daily laborers as needed

• Uses BB&T Mobile and BB&T Alerts to manage his finances

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Bank Whenever, Wherever

• While parked outside a store, Hank texts “BAL” to his bank’s number (example 69228 for MYBBT)

• Within seconds he gets a text response with his available balance

• There’s enough to buy the pipes for his next job

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Avoid Fees

Hank signs up for an alert that warns him when his account balance goes below a preset threshold, and also for the Overdraft and NSF Fee alert

Hank’s wife makes a major purchase that brings the balance below the limit preset by Hank. An alert is immediately sent to Hank’s phone by text message.

Hank uses Mobile Banking to transfer money to the account that has low balance

Hank’s assistant makes a purchase that brings the balance below zero. Hank was on vacation, but he received the Overdraft Alert on his phone the next business day. (Normally the notice would have arrived by mail in 2-3 business days, and Hank would not have known about it until he got back from vacation).

All is well

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Catch Fraudulent Activity Faster• Set a threshold alert

– Hank knows that most purchases during the day are below $300, so he sets that as the threshold for the withdrawal alert

• Make sure you read the alert– One day he got an alert that $500 had been taken

out of his account• Investigate the transaction

– Hank used his BB&T iPhone app to check his transaction history and saw that it was a withdrawal at an ATM…but in a different state that he has never been to

• Report the activity– He immediately called the bank and because of the

timely report, the thief was caught. The $500 was immediately returned to Hank’s account

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Reaping the Rewards

• Manage Finances Effectively– Being alerted about balance changes helped Hank make better

financial decisions so he was not blindsided by unexpected transactions

– Fraud was detected faster and much disruption was avoided• Avoid Fees

– Checking his balances before making purchases helped Hank avoid overdraft fees – he had two incidents the month before – none this month or going forward

• Enjoy Convenient Access– Hank never has to go to a branch or an ATM to transfer money –

he can do it anytime he wants, while on the move, and is able to focus on giving his clients the best service

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Mobile Security Risks & MitigationAlways take security precautions when using your mobile device

Risks How to Mitigate

Sniffing: Someone could intercept the information you are transferring and decipher it. (SMS text messages are not encrypted).

Don’t send or receive full account numbers, user names, passwords, and other sensitive information

Lost or stolen devices: Data stored in your devices could be used to your detriment

Always password protect your phone; don’t store sensitive information locally without encrypting it

Mobile malware: Downloads may contain viruses or malware

Don’t download emails or attachments from untrusted sources, or if they look suspicious

Over the shoulder eavesdropping: Public places pose the greatest risk

Turn off your Bluetooth connections; use a screen guard when possible

Fraudsters may use your ID and password to steal money from you using mobile banking

You can use alerts to catch fraudulent transactions faster BB&T has strong anti-fraud systems in place to mitigate risk of financial loss

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Multi-Layered Security

BB&TUses strong authentication (multi-factor)

Utilizes Web encryption (SSL – secure socket layer)

Never transmits full account numbers or other personal information by SMS

Requires additional verification before transferring funds

Network and/or Mobile Application Provider

Encrypted data transmission where possible

Data recovery services from lost/stolen devices – i.e., delete data remotely and then restore data on new or recovered device

YouPassword protect your device

Never store full account numbers, user IDs, passwords or other sensitive information unless encrypted

Switch off Bluetooth connectivity when not used

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What BB&T Mobile Banking and Alerts Can Do For You

Alerts• Real-time

– Important alerts that affect your balance are sent almost immediately after transactions occur

• Integrated approach– Respond to alerts with mobile

banking to remedy situations– Incorporate multiple accounts

• Supports your lifestyle– Multiple options – email, text

messages– Ability to define “quiet times” and

suspend delivery for extended times

– Easy to add and modify settings

Mobile Banking• Comprehensive features

– Complete view of accounts– Security – Online money movement– Integrates with alerts

• Supports your lifestyle– Multiple options

• Text message• Browser-based• Smartphone app

– Easy registration• Easy access to information

– Real-time– Anytime– Anywhere

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Thank You

• For more information on mobile banking, please visit BBT.com/mobile

• For more information on alerts, please visit BBT.com/alerts

BB&T, Member FDIC.