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Rabobank / Rabo Mobiel
Next Generation Banking
May 15 2008, Saint Paul de Vence
18th Annual Unisys Global Executive Payments SummitWim Westerhof, Senior Vice President - Strategy and Business Development
Rabo Mobiel
De Lage LandenLeasing
220 member banks1.400 branches
7 million customers1,5 mln members
Rabobank Nederland
Robeco
Gilde InvestmentManagement
Schretlen & Co
AlexOnline broker
Rabo VastgoedProperty
Rabobank GroupGuiding Principle:Customer value
Rabobank InternationalRabo Securities
Know your customers (a model) …number of active Internet customers
Active Internet Customers Per Age
0
10000
20000
30000
40000
50000
60000
70000
1 6
11
16
21
26
31
36
41
46
51
56
61
66
71
76
81
86
91
96
10
1
10
6
age
# o
f c
us
tom
ers
Generations‟ motivation to communicate
FunctionalSearching, OriëntationWorking, MailingPowers it off if not neededLearned to use it when mature
SocialInteractionFriendships, communitiesSingle tasking, always onLearned to use it when adolescent
Self-expression (<30)Lifestyle, PersonalityMouseclick loyaltyAlways online, multi taskingGrown up with the Internet
Morse Research
The present situationthe Internetization of mobile communication
Portals
E-mail and messaging
Communities
Contact management
Moblogs, picture sharing
Micropayment
Microcommerce
Location-based services
Entertainment, music video
Information and content
VoIP
Video calling
Network services
Smartphones
Flash Lite
HTML
Java
Wi-Fi
3G
Handsets
Handset IM
Linux
Internet technology
on mobile devices
“Internet like” mobile
services
Internet brands and
businessmodels also on
mobiles
• Personal computers, tv and mobile: everything will be
powered by the Internet
• Only the formsfactor (screensize / keypad) of the client
differs
• Which formsfactor will be dominant?
• Can you affort to discriminate?
• And which one can / may / will be used for communication
with the bank?
Rabobank is a bank for every generation
• Personal computers, tv and mobile: everything will be
powered by the Internet
• Only the formsfactor (screensize / keypad) of the client
differs
• Which formsfactor will be dominant?
• Can you affort to discriminate?
• And which one can / may / will be used for communication
with the bank?
• And: there‟s nothing sexy about Payments, so let‟s make it
as convenient as possible
• We enable the use of the Current Account trough every
available channel for every purpose
Rabobank is a bank for every generation
Rabo MobielThe bank in your pocket
• Intelligent chips make a mobile phone a tool that can be used for non-disputed identification and so, we can do (payment-) transactions
• The mobile phone will be your personal (financial) remote control
• Joining mobile initiatives is considered to be of strategic importance
• The Telco world is “different”
• That‟s why we started a new company: Rabo Mobiel
What‟s the difference?Rabo Mobiel will be the first mobile internet bank
The Position of mobile brands in the Netherlands
complex,
complete portfolio Innovation power
costs
Rabo
Mobiel
…. and notjust another
pricefighter
What is Rabo Mobiel?
It‟s a MVNO:
• Phonecalls € 0.10 / minute and per sms
• Sim only or with advanced exclusive mobile Phones
Included:
Free mobile banking
No licences (a minimum charge of € 10 / month)
Free 1 MB Data, over 1 MB € 2 per MB / month
What is Rabo Mobiel?
It is an incubator on mobile for the Rabobank Group:
• Research on „what‟s going on‟
• Execute pilots
• Develop solid financial applications
• Help the rest of the bank
• Centre of expertise
Rabo Mobiel: today
• Mobile banking– Mobile banking on your mobile phone– Paying – Control over your financial situation – Control over your phonebill– The bank keeps you informed
• Actual proposition– Mobile banking services
– Account information – Transaction information– Payments initiation with your mobile
– Payments and Savings alerts – Phonebill information on your phone and on the Internet – Seperate sms-bill
Rabo Mobiel: The future
Mobile banking => 2008 - 2009
– All kinds of transaction initiation via your phone
– Paying / ticketing for public transport
– Paying in retailstores and restaurants
– Paying for parking
– Identification with your mobile
– SEPA mPayments rulebook
An example of Product Innovation:Person to person payments
Connecting the Mobile Phone to the Current Account introduces the
possibility to initiate (low value) payments to another Mobile Phone:
Rabo Mobiel introduces mobile
person-to-person payments
NFC ….. niche or hype ?
Near field communication (NFC) is a type of RFID. RFID is used for storing and sending information in one direction, NFC communicates in
two directions and is able to process the received signals.
The use of NFC is focussed on the consumermarket.
Talking about Contactless cards ….
• Contactless cards are widespread
• Creditcard companies support several schemes
• What standards are used (Mifare)?
• EMV is not (yet) supported: is this an issue?
• Terminal standardisation is certainly one!
Mobile contactless is ready for take off !
NTT DoCoMo in Japan
Visa PayWaveMastercard PayPass
RFID Nederland
Security in the mobile phone…
We do trust our customer,
but we don’t trust his mobile phone (nor his PC)
Security in the mobile phone…
We do trust our customer,
but we don’t trust his mobile phone (nor his PC)
• Secure element– Single-wire protocol
– SD card
– Embedded
• Applicationmanagement OTA
• Every operator versus every application supplier (bank)?
• What is the businessmodel?
The use of the mobile infrastructure: the classical N : M problem….
ExampleSingle Wire Protocol
The Trusted Service Manager
T S M
What do we need to get it “flying”
• Special Mobile Phones• Maybe Special Simcards• A Trusted Service Manager• A solid businessmodel• Every operator, every bank• Applications: Public Transport, Retailers ….• Standards• EPC support• …
