Abstract
Objective: Over the years the mobile phone has been taking a role of dependency in our dailylives (nomophobia - phobia of being without a mobile phone). However, the phone's invasion
still has much room to grow, especially if we look at the Portuguese case of mobile phone utilization to perform banking operations. This case study aims to demonstrate the evolution of m-banking worldwide, providing the banks a report on channel adoption strategies, customer experience, the challenges of security and law and how can they innovate in the context of digital disruption.
Methodology: Three studies were made: one with 271 respondents in order to evaluate the profile of bank customers who use and who do not use m-banking; another one carrying out interviews with marketing / mobile managers, business directors and technology companies in order to evaluate the key points for the positioning of m-banking; and the last one with 105 respondents in order to anticipate adoption’s main barriers.
Results: The use of m-banking has room to grow (57.6% are users and 42.4% are non users).
The banking app users demand more speed, usability and simplicity and use the channel for queries or day-to-day operations. Non users lack confidence, don’t perceive additional benefits in using it, preferring to use the computer (various statistical techniques used for analysis). The barriers of usability, value and risk were proved to be statistically significant as forecasts for the channel usage (binary logistic regression with previous factorial analysis).
Marketing / mobile managers recognize the importance of customer experience as a key factor in positioning strategy; the business directors want to invest in the compatibility provided by the mobile and technology companies mentioned innovation as the key factor in the digital era.
Conclusions: Banks are facing the challenges of a new consumer’s profile of the digital era that wants new experiences and access to information, interacts mainly over the internet, requires customization and asks for the same treatment in the physical store as online (omnichannel).
New digital businesses and the digitalization of existing ones emerged, einforcing the power of the consumer through new experiences and value propositions. "Unicorn" companies are being created – startups of a new generation of technologies and disruptive business models that reach market valuations over $ 1B by venture capital companies. The mobile channel is the common bet in the digital era thus banks must have a positioning strategy in what concerns this channel based on client’s needs.
| Date of Award | 7 Apr 2017 |
|---|---|
| Original language | Portuguese |
| Awarding Institution |
|
| Supervisor | Pedro Celeste (Supervisor) |
Designation
- Mestrado em Gestão Aplicada