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Business Strategy: Have Leading Asia/Pacific Banks Raised the Standards for Mobile?

Abstract

This IDC Financial Insights report puts the limelight on the most noteworthy mobile financial services offerings of Asia/Pacific banks. Examining leading banks' propositions for mobile banking and mobile payments solutions, IDC Financial Insights uncovers several benchmarks and best practices that will be useful for staying ahead in the race for success in mobile banking.

Michael Araneta, associate director for IDC Financial Insights Asia/Pacific comments, "The region's leading banks have looked at the mobile phenomenon under a more strategic lens and have deployed their best resources and people to this 'channel of the future.' We see successes in launching standout features and functionalities, in ensuring growth in activity rates among customers, and in managing the technology requirements of the mobile channel."

Araneta continues, "It is easy to get carried away by the current everything-mobile hype. Banks however need to understand that some fundamental shifts are afoot - such as the changing notions of what is a channel, how the customer interacts with the bank in the future, and most importantly, how nonbanking entities might disintermediate banks by way of the mobile phenomenon."

Copyright 2012 IDC Financial Insights. Reproduction without written permission is completely forbidden. External Publication of IDC Financial Insights Information and Data: Any IDC Financial Insights information that is to be used in advertising, press releases, or promotional materials requires prior written approval from the appropriate IDC Financial Insights Vice President. A draft of the proposed document should accompany any such request. IDC Financial Insights reserves the right to deny approval of external usage for any reason.

Table of Contents

IDC Financial Insights Opinion

In This Study

  • Scope and Coverage

Situation Overview

The Approach

  • Leading Banks Raising the Standards
    • ANZ Bank, Australia
    • Commonwealth Bank of Australia
    • Hana Bank, South Korea
    • Kookmin Bank, South Korea
    • Maybank, Malaysia
    • OCBC Bank, Singapore
    • RCBC, Philippines
    • UOB Bank, Singapore
  • The State of Play
    • Native Versus Web-Based Apps: Dilemma No More?
    • Key Functionalities: Now to 2014
    • Access and Usage Benchmarks to Consider
    • Implementation Time Frames

Future Outlook

Essential Guidance

  • Actions to Consider

Learn More

  • Related Research
  • Synopsis

List of Tables

  • Table: Baseline Functionalities for Mobile Banking in Asia/Pacific
  • Table: Standout Features and Functionalities from Mobile Banking Offerings of Leading Asia/Pacific Banks
  • Table: Future Mobile Banking Functionalities of Leading Asia/Pacific Banks

List of Figures

  • Figure: Tier 1 Markets: Indicative Benchmarks for Mobile Banking
  • Figure: Tier 2 Markets: Indicative Benchmarks for Mobile Banking
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