Mobile banking and payments is rubbish by Chris Skinner

Here's an interesting presentation by Chris skinner, from the Next Bank Rome Conference this month.You need the notes on the slides (below) to make it make sense!

 

Mobile banking and payments is rubbish — Presentation Transcript

1. Chris Skinner @FSClub and @Chris_Skinner www.thefinanser.com © Chris Skinner. All rights reserved.
2. www.thefinanser.com© Chris Skinner. All rights reserved.
3. © Chris Skinner. All rights reserved.
4. Tim Berners-Lee (www) © Chris Skinner. All rights reserved.
5. 2002: Bought by eBay for $1.5 billion, with revenues at $200 million2005: Revenues reach $1 billion2009: transactions exceed $20 billion per quarter and revenues $2.8 billion”PayPal delivered a strong third quarter performance. It ended the quarter with 117.4 million activeregistered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year overyear and net total payment volume (TPV) grew 20% year over year to $35.2 billion.”PayPal's 2012 revenue will be over $5 billion compared with $4.4 billion in 2011.PayPal processed $113 billion in transactions in 2011 compared with $60 billion in 2008. PayPalprocessed $4 billion in mobile payments in 2011 and expect to process over $10 billion mobiletransactions in 2012. © Chris Skinner. All rights reserved.
6. Martin Cooper (mobile) © Chris Skinner. All rights reserved.
7. © Chris Skinner. All rights reserved.
8.  According to a 2012 survey by the Gates Foundation, the World Bank and Gallup, more than 10% of adults said they had used mobile money in the last year; of the 20 countries surveyed, 15 were in Africa  Somalia lacks a functioning government but 34% of adults use mobile money (often to receive remittances from family members abroad)  In Kenya, 68% of adults use mobile money and half have paper-based bank accountsSource: the Economist, April 2012 © Chris Skinner. All rights reserved.
9. • 20% of Kenyas GDP • At peak, 200 tx/second • KES15 billion ($180 million) is stored in M-PESA at any time • Fraud is 1/20th of Banking • 17% of Safaricoms revenue – more than text and data combined • When launched, 2.5 million bank account holders in Kenya; five years later there are over 9 million • Safaricom does not earn interest on the money stored, but gives interest to a charitable foundation© Chris Skinner. All rights reserved.
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17. Jack Dorsey (twitter & square)© Chris Skinner. All rights reserved.
18. Within a year of launch, Square was processing over:• $2 million a day in April 2011, rising to over• $3 million a day by May 2011• $4 million a day by July 2011; and• $11 million a day by November 2011.In October 2011 they had 750,000 merchantsrising to over a million by December – thereare only eight million card-acceptingmerchants in the USA in total.By March 2012, Square was processing $4billion a year in payment volumes, doublethe amount announced in October 2011. © Chris Skinner. All rights reserved.
19. March 2012 April 2012 June 2012 © Chris Skinner. All rights reserved.
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25. Mark Pincus (zynga) © Chris Skinner. All rights reserved.
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33. Data is the greatest raw material ofbusiness, on a par with capital and labour."What we are seeing is the ability to haveeconomies form around the data and that,to me, is the big change at a societal andeven macroeconomic level."Craig MundieHead of Research and StrategyMicrosoft © Chris Skinner. All rights reserved.
34. © Chris Skinner. All rights reserved.
35. Satoshi Nakamoto (bitcoin)© Chris Skinner. All rights reserved.
36. © Chris Skinner. All rights reserved.
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38. © Chris Skinner. All rights reserved.
39. Mark Zuckerberg (facebook) © Chris Skinner. All rights reserved.
40. Mark Zuckerberg (facebook) © Chris Skinner. All rights reserved.
41. Julian Assange (wikileaks) © Chris Skinner. All rights reserved.
42. © Chris Skinner. All rights reserved.
43. Aaron Barr (HB Gary) © Chris Skinner. All rights reserved.
44. © Chris Skinner. All rights reserved.
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46. © Chris Skinner. All rights reserved.
47. May 2012• Facebook is the worlds largest social network• Every other person on the internet are users• That's over 900 million monthly active users (up from 680 million a year ago) and 526 million daily active users (up from 372 million last year)• Monthly mobile users now total 488 million• 300 million photos are uploaded to the site each day• 3.2 billion Likes and Comments daily• 125 billion friendships are forged per day• Revenue for the first quarter of 2012 was $1.058 billion, up from $731 last year © Chris Skinner. All rights reserved.
48. • 850 million users • 150 million users• 166,890,779 user visits, February • 26,186,877 user visits, February 2012 2012• 500 million registered / 200 million • One hour of video is loaded every active users second• 37,201,228 user visits, February • 147,739,093 user visits, February 2012 2012• 90 million users • 51 million users• 18,915,810 user visits, February • 18,255,322 user visits, February 2012 2012 © Chris Skinner. All rights reserved.
49. Mohammed Bouazizi© Chris Skinner. All rights reserved.
50. Molly Katchpole© Chris Skinner. All rights reserved.
51. © Chris Skinner. All rights reserved.
52. © Chris Skinner. All rights reserved.
53. © Chris Skinner. All rights reserved.
54. GLoSoMo• Global• Social• Mobile
55. © Chris Skinner. All rights reserved.
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57. American Express's Facebook page has around 13,500 crowd sourcedstories at any moment in time (this is the number of actions such as likes,comments and shares by AMEX's fans). Multiply this by the number offriends each of these stories reach (the average user has 234 friends) thenthe "potential" reach is over three million people all the time. © Chris Skinner. All rights reserved.
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61. Personal Financial Management (PFM)• Over 25% of online users signed up for stand-alone PFM within 6 months• Over 75% of new PFM users use PFM again within two weeks• Over 25% of new PFM users use PFM five times or more in the first month, and spend more than double the time in PFM compared to general online banking• The average time onsite is 12 minutes, with 35 pageviews per PFM session• More than half of all PFM users are still active a year after signing-up• Over 80% of users are "pleased" or "highly pleased" with PFM• 9 out of 10 users say they'd recommend PFM to others• 66% say PFM has helped them see how they can improve financially• 41% say they have improved financial behaviour after starting to use PFM © Chris Skinner. All rights reserved.
62. © Chris Skinner. All rights reserved.
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69. Body monitor© Chris Skinner. All rights reserved.
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72. Financial Data Wars"Banking is just bits and bytes." John Reed, CEO/Chair, 1984-98"What we are seeing is the ability to have economies formaround the data and that, to me, is the big change at a societaland even macroeconomic level." Craig Mundie, Head ofResearch and Strategy, Microsoft"I look at Wall Street as broken, from the point of view ofSilicon Valley" Roger McNamee, founder of Elevation Partners,the $1.9 billion fund © Chris Skinner. All rights reserved.
73. © Chris Skinner. All rights reserved.
74. Financial Digital Actual = CREDBehaviour Behaviour Behaviour Ability to be a Ability to Ability to be Movenbank = CRED manage trusted advocate moneyPFM, DDA, Lo LinkedIn, eBay,ans, Savings, I Facebook, Twitte Movenbank = CREDnvestments … r, Prosper … gamification = CRED
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80. Fingeredhttp://www.ushuaiabeachhotel.com/en/pioneers/© Chris Skinner. All rights reserved.
81. Opus Research predicts that the global number of registered voiceprints will increasefrom 10 million today to over 25 million in 2015, and much of this will be driven by thepayments markets. © Chris Skinner. All rights reserved.
82. © Chris Skinner. All rights reserved.
83. © Chris Skinner. All rights reserved.
84. ING Café© Chris Skinner. All rights reserved.
85. "We don't hire bankers, because bankers comein with their DNA and they have their legacywhich won't fit. Instead we hire dancers,musicians and artists. People who can deliver agreat and different experience."Arkani Kuhlmann, President and CEO, ING Direct USABAI Retail Delivery 2008 © Chris Skinner. All rights reserved.
86. Umpqua BankIn 2003, Umpqua began opening banking centers whose designs employ a truly retail approach, including wall and floor visual merchandising. © Chris Skinner. All rights reserved.
87. © Chris Skinner. All rights reserved.
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93. "…executives cross the Atlantic on a Virgin plane, listen to Virgin records and keep their money with a Virgin bank …." — Richard Branson, ‘The Economist World in 1997'© Chris Skinner. All rights reserved.
94. The Top 5 Banks in the World2010 19991 Bank of America 1 Citigroup2 JP Morgan Chase 2 Bank of America3 Citigroup 3 HSBC4 Royal Bank of Scotland 4 Crédit Agricole5 HSBC 5 Chase Manhattan Source: The Banker © Chris Skinner. All rights reserved.
95. © Chris Skinner. All rights reserved.
96. ©Chris Skinner +44 790 586 2270 chris.skinner@fsclub.co.uk
97. © Chris Skinner. All rights reserved.
98. © Chris Skinner. All rights reserved.
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100. Read the Case Study
101. Read the Case Study
102. Read the Case Study
103. Read the Case Study
104. © Chris Skinner. All rights reserved.
105. Read the Case Study
106. Read the Case Study
107. Fidor Bank thinks different! Fidor Bank = GLOBAL PEER TO PEER BANKING.  Crowdsourcing, e. g. with a user-community, that allows peer-to-peer support, sharing of experiences and cooperation in order to solve financial questions;  Crowdfunding, e. g. by getting paid by the bank for specific social interactions within Fidor Bank Community;  User co-designed Products and user driven Prices, e. g. Product suggestions within the community, „Zins-Consenus-Group" within Fidor Bank Community, „Like-Zins", an interest rate that is directly connected to the amount of Likes on Fidor Bank´s Facebook profile.  Crowdfunding, via third party platforms such as startnext and others;  Peer to peer lending within FidorPay Account;  A global payment offer, that will allow „account to account" payments or „account to cash pick up".
108. Fidor Bank´s Customer „phase in" allows efficient marketing spendings. 2011: proof of concept €100,000 Communication Spendings since Kick off 75,000 top Line User registrations year end 2011 €1.33 Cost per Registration 6,000 full KYC Customers in avg 2011 €16.7 Cost per Full KYC Customer in avg 2011 €14.83 net income/full KYC user in 2011
109. © Chris Skinner. All rights reserved.
110. The Bank of 2020SocialMobileMicroMiningBiometricStill a bank © Chris Skinner. All rights reserved.
111. © Chris Skinner. All rights reserved.
112. BBC, January 2012 Guardian, July 2010
113. Banking is just data"Information about money has becomealmost as important as money itself ."Walter Wriston, CEO/Chair, 1967-1984 "Banking is just bits and bytes." John Reed, CEO/Chair, 1984-1998
114. Data is the greatest raw material ofbusiness, on a par with capital and labour."What we are seeing is the ability to haveeconomies form around the data andthat, to me, is the big change at a societaland even macroeconomic level."Craig MundieHead of Research and StrategyMicrosoft © Chris Skinner. All rights reserved.
115. • It took radio 38 years to reach 50 million listeners.• Television took 13 years to reach 50 million users.• The internet took 4 years to reach 50 million people.• The iPad reached 50 million users in just 18 months. © Chris Skinner. All rights reserved.
116. www.thefinanser.com© Chris Skinner. All rights reserved.
117. Chris Skinner @FSClub and @Chris_Skinner www.thefinanser.com © Chris Skinner. All rights reserved.

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