This year’s M6 focused on a wealth of mobile applications. Among other topics, the financial sector plays an important role. It’s foreseeable that the smartphone will overtake the wallet just as it has overtaken the camera, the personal organizer and other traditional accessories. But the main emphasis of the innovations is not only to shift employees from being deskbound to mobile. Moreover, it is the transformation of the financial sector by bringing features that are unique to mobility.
Until now, many retail banks still run on banking systems which have been installed three or four decades ago. But there are a lot of hidden opportunities for the bank companies. The potential growth in the mobile payment market and the ability to make payments via mobile phone is stunning. Bank anytime, anywhere – These are important features for both customers and bankers. The financial sector has to adjust permanently on the alternating market situation. Stock prices change quickly and new products are launched durably. The customer wants a reliable bank with a comprehensive consulting. Since mobile applications, clients can be supported on the go and in real time! Bankers can respond quickly and efficient on customer demands.
Since 70% of the world’s population has no access to financial services, mobility can empower the “unbanked” and “under banked” with access to essential financial services from any device or channel. Addressing this demographic group with mobile solutions will increase economic growth in that developing country through microloan and financial consulting. This is a benefit for both retail banks and the population.
Mobility for financial services is a seminal topic. This year’s M6 was an event discussing such innovations and collaborating with a team. If you are interested in more information visit the M6 website. If you were not able to attend the M6 event I suggest that you watch the interview below. It’s about Mr. Arif Sirhindi, President and CEO of Ubank, who describes how his company was able to launch a mobile money solution in record time.
This is our last post for this M6 blog series. If you still want to learn more about mobile technologies in financial services I would recommend this report about “How to Make Consumers Love Their Bank”. It’s about creating customer experience in order to keep up with online competitors like Google or PayPal. If you are searching for other mobile solutions please feel free to visit this link to the SAP website. There you can find information about all SAP mobile solutions for every industry.
Finally I highly recommend checking out the other blogs of our series:
- Location, Location, Location: The Key to Manufacturing Success
- Successfully Identify and Fulfill a Retail Customer’s Unique Needs with Mobile Solutions
- Communicating with Consumers in the Utility Industry
- SAP Shows How Mobile Transforms Industries at M6 2014 Event
- Mobility Helps Us to Better Coordinate Patient Care