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10 non-core banking apps worth consideringPlus a shortlist of four reserves taken from outside FS

November 2012


Report structure:A. Executive summary*B. Research approach*1. Ten examples* (29 pages)2. Shortlisted3. Conclusion* See subsequent pages for examples from this section.

Topic:As part of on-going Mapa research in the mobile space we see that banks are looking beyond core mobile banking apps to engage with both existing customers and prospects on mobile devices. A range of techniques are being used.

In our latest syndicated report, we take a look at some of the best non-core banking initiatives in financial services, and take a look at other sectors, providing some thought-provoking ideas for banks. Implementing these ideas will provide value for their customers, build loyalty and branding , and extend product and service offerings.

In the report we look in detail at 10 different non-core banking apps plus a small number of initiatives taken from outside the banking sector that could be relevant for a financial services company.

Methodology:For all examples we include quick facts, business cases, our commentary and analysis, and screenshots, as well as statistics and other insight we have obtained (including quotes and comments from the organisations behind the app). The report comprises 42 pages.

What are banks doing - beyond core mobile banking apps - to engage with both existing customers and prospects, using the app opportunity?

Objective:The key objectives of the research was to: •Gain an understanding of what types of non-core banking apps are available to customers, as well as non-customers. •Identify the business cases amongst selected apps of interest.•Investigate apps outside the banking sector, and see if any could be applicable to a financial services company.•Provide evidence of success regarding the app initiatives highlighted.


See subsequent pages on what to expect from the report:

10 non-core banking apps worth considering


Summary of approach

As part of this report project we have researched:

•Approximately 80 banks and financial services companies across the following countries:

•40 non-financial services companies, primarily in the Nordics, UK and USA. Sectors researched include hotel, retail, telecom

and travel.

•We have also reviewed documents held at Mapa such as previous syndicated reports, conference material and bookmarked

news stories captured as part of our ongoing monitoring of digital developments around the world.

•Screenshots have been taken using live Mapa held consumer accounts. In some cases insight has also been provided by using

screenshots available within the AppStore / Google Play.

Research approach

• Belgium • Denmark • France • Netherlands • Norway

• Australia• Hong Kong• New Zealand • Singapore • USA

• Spain • Sweden • Turkey • UK

Europe: Outside Europe:

Sample page from report


ObjectivesThe objectives of the research was to:

•Gain an understanding of what types of non-core banking apps are available to customers, as well as non-customers.

•Identify the business cases amongst selected apps of interest.

•Investigate apps outside the banking sector, and see if any could be applicable to a financial services company.

•Where possible, provide evidence of success regarding the app initiatives highlighted.

This report will feed into internal planning and decision making processes ,providing both creative inspiration as well as a tool to strengthen business cases.

Chapters CoveredWe start off with a summary of our research process.

In Chapter 1 we look in detail at 10 different non-core banking apps,

including quick facts, business cases, our commentary and analysis, and

screenshots, as well as statistics and other insight we have obtained.

Chapter 2 has examples that we have obtained as part of doing research

outside the banking sector. For all the examples included in this chapter we

suggest why these could be relevant for a financial services company.

In Chapter 3 we summarise the key findings and comment on the future.

Executive SummaryE

Key themesThroughout this research project a number of key

themes have emerged:

•Housing and mortgage related apps are, by far,

the most common approach by banks to extend

their app offerings. This is also the app initiative

outside core banking that we see providing the

best business case.

•Loyalty schemes and deals create another

appealing business case, particularly around the

use of GPS functionality and the option to redeem

quickly and easily. This will be the new app battle

ground.

•We anticipated that there would be a large

number of app initiatives aimed at youths and

students: considering them a digital savvy

generation that banks want to tie closer to their

business. Currently few such initiatives exist.

•Despite a huge worldwide search we have only

been able to find and include a small number of

non-banking apps that we see as having potential

for banks to build a case around.

•Our conclusion: should banks just stick to

banking? Considering our scope and findings;

banks, in most cases, seem to think so.



Ten examples: Citi – ThankYou Rewards1

Quick facts•Check your reward point balance•Browse a product catalogue from Best Buy stores•Redeem your points at Best Buy, checking out on your mobile•Purchases can be picked up in-store or delivered

Business caseThe Citi Rewards scheme is part of their central marketing strategy to

build customer loyalty. It will drive profitable customer behaviour, including

greater account acquisition, spend and fee revenue, and reduced attrition

- all of which bring direct revenue for the bank. After only 5 years of

running the scheme, the Citi claimed 13 million customers, making it one

of the world’s largest loyalty schemes. Once the business case for the

rewards scheme itself is created, it naturally translates to the mobile

channel. With smartphone penetration in the USA at over 50% and

numerous mobile coupon and rewards sucess stories, a mobile version of

ThankYou Rewards seems obvious. Increasing accesibility of the scheme

increases the value of the rewards points.

Mapa commentsThankYou Rewards was one of the first bank lead apps to join up reward

points with a mobile commerce solution. Citi are perhaps the leading

example of a bank letting customers unlock the value stored in their

loyalty points. Citi points can also be viewed in the mobile banking app

and shared among Facebook friends.

Further insight and statistics: “It’s about giving our customers what they

wanted,” said Ralph Andretta, executive vice

president of loyalty and new products at Citi.

“We’re starting to see people actively engage with

us on mobile,” Mr. Andretta said. “We’re very

excited about the new mobile app.

We’re also very excited to partner with Best Buy -

they have depth and reach,” although Citi would

consider partnering with other retailers.

As part of the app promotion any Citi ThankYou

member who downloads the app at the Best Buy

store in Union Square, New York City from noon to

9 P.M. will receive bonus ThankYou Rewards

points.

August 2011, Mobile Commerce Daily

bit.ly/SA9fB4


1

Mapa comment:

The integration of mobile devices with physical

commerce is increasingly prevalent. Previously,

customers may have only used their phones to

compare prices online, but now retailers are

attempting to include mobile devices for

shopping, checkout and loyalty. One new intitaitve

comes from Sainsbury’s in the UK : bit.ly/Px0I5P

Customers can search, scan and redeem ThankYou Rewards at Best Buy. Customers can also see their rewards points in the main

mobile banking service. N.B. ThankYou rewards can also be shared on Facebook (see next page).

ThankYou rewards app landing page after login (login with rewards

member username and password)

If at a Best Buy store, customers can scan in product barcodes to see how

many points they would need to redeem them.

Customers can then purchase the product by checking-out on their mobile phone. After

receiving a confirmation email, the customer can pick up their product in the store.

Ten examples: Citi – ThankYou Rewards Sample page from report


1

As part of the overall Citibank US Facebook page they have created a dedicated ThankYou Rewards app as part of which they

promote the different benefits that comes with the scheme including the option to transfer as well as a sharing points with others.

Ten examples: Citi – ThankYou Rewards

Link to page: on.fb.me/Y5NEXC



A selection of reports to buy:1. Tablet Banking: 3rd Edition - Is it more than just the iPad? Published Jan 2012.2. Mobile Promotion: The report will cover a global review of how banks use mobile banking as a tool for promoting /selling products and also how mobile banking itself is promoted to customers. Published March 20123. PFM Tools: Is PFM worth the investment? (follow up to 1st edition PFM report ). Published June 2012.4. Mobile User Experience: We’ll look at the good, the bad and the ugly of mobile banking interfaces. We’ll also be asking subscribers for their input on what a killer experience should be. Published August 2012.5. Security: Successfully managing a delicate balance.Published October 2012.6. Mobile Apps: 10 non-core mobile banking applications worth your time thinking about. Published November 2012.7. Mobile payments: Market review of point-of-sale initiatives including a deep dive in to the customer experience of a selection of services. Delivery December 2012.8. (Bank) Simple review: What are disruptor brands like Simple doing that we (banks) could bring to our brand to improve our customer experience?. Delivery December 2012

The internet is still rapidly changing. Just when we think it can’t get better; it does. New ways of marketing, the impact social and mobile, the change in consumer behaviour; are all impacting the way online businesses are servicing their customers and converting new ones.

Banks are also getting more innovative; launching clever services, embracing new technologies and engaging customers with stimulating and creative content. This is not a single country story, it is an international story.

With our reports we can keep you up to date and make sure you are not missing anything.

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