일반산업
Overview of Mobile financial Industry affected by smartphone
2010-04-01KIM, Nam-Hoon
목차
요약
Rapid Increase in Smartphone Users is a Turning Point in Mobile
Financial Service
As obstacles like a handset, service fees and contents are removed, wireless internet users are rapidly increasing.
As restrictions on the expansion of mobile internet service are removed, the percentage of smartphone users is expected to grow from only 1.5% in 2009 to 8~9% in 2010, thereby providing a new opportunity for the growth of mobile financial service.
With the expansion of 3G network, mobile banking and mobile payments begin to highly grow in the domestic market.
Domestic mobile banking users accounts for 21% of the total mobile telecommunication users, higher than that of advanced nations. Since 3G was introduced, transaction volume or size of mobile banking has continued to rapidly grown at a CAGR of 50% between 2006 and 2009.
Meanwhile, increased mobile shopping leads to a rapid increase in mobile payments of goods combined with location-based service or real time price search function. However, expansion of off-line payments of goods using a smartphone is expected to slow down somewhat due to insufficient infrastructure like a lack of reader support.
Foreign preference for smartphone banking is high, but only basic services are available.
Since users of iPhone or other smartphones use more mobile banking services than regular mobile phone users, expansion of smartphones serves as an opportunity for the financial industry. However, major banks including Citibank, BOA and HSBC only offer basic banking services such as fund transfer, inquiry and product promotion, and a service level difference among financial institutions is small.
In addition to mobile banking service, payments for e-commerce on a mobile phone will be rapidly grow.
Low receptivity of the current users to mobile shopping may be an obstacle to expansion of mobile payments. However, a change in payment methods combined with a smartphone allow more users to shift from banking services to mobile payments services faster then expected.
Partnership Strategies and Personalized Services are required
based on Mobile Banking First Mover Effects
Partnership and personalized services such as mobile coupons and mobile PB provide an opportunity for revenue generation and differentiated services.
By taking advantage of awareness obtained as a smartphone banking first mover and an opportunity to build network, the mobile financial industry should generate revenue before the mobile financial market become red ocean: The industry should provide mobile coupons through partnership with large on-and off-line distribution companies
Since mobile banking services are just an alternative of the existing on-line banking service, it is hard to generate revenue. Accordingly, the industry should focus on customer retention through personalized services - 'customized financial products,' 'mobile PB,' and 'personalized video banking.'
Mobile channels should be used to serve customers or sell products through SNS including twitter.
The mobile financial industry should take advantage of helpdesk or marketing channels for financial products to raise customer satisfaction, collect information for the development of products and promote products.
Financial Service
As obstacles like a handset, service fees and contents are removed, wireless internet users are rapidly increasing.
As restrictions on the expansion of mobile internet service are removed, the percentage of smartphone users is expected to grow from only 1.5% in 2009 to 8~9% in 2010, thereby providing a new opportunity for the growth of mobile financial service.
With the expansion of 3G network, mobile banking and mobile payments begin to highly grow in the domestic market.
Domestic mobile banking users accounts for 21% of the total mobile telecommunication users, higher than that of advanced nations. Since 3G was introduced, transaction volume or size of mobile banking has continued to rapidly grown at a CAGR of 50% between 2006 and 2009.
Meanwhile, increased mobile shopping leads to a rapid increase in mobile payments of goods combined with location-based service or real time price search function. However, expansion of off-line payments of goods using a smartphone is expected to slow down somewhat due to insufficient infrastructure like a lack of reader support.
Foreign preference for smartphone banking is high, but only basic services are available.
Since users of iPhone or other smartphones use more mobile banking services than regular mobile phone users, expansion of smartphones serves as an opportunity for the financial industry. However, major banks including Citibank, BOA and HSBC only offer basic banking services such as fund transfer, inquiry and product promotion, and a service level difference among financial institutions is small.
In addition to mobile banking service, payments for e-commerce on a mobile phone will be rapidly grow.
Low receptivity of the current users to mobile shopping may be an obstacle to expansion of mobile payments. However, a change in payment methods combined with a smartphone allow more users to shift from banking services to mobile payments services faster then expected.
Partnership Strategies and Personalized Services are required
based on Mobile Banking First Mover Effects
Partnership and personalized services such as mobile coupons and mobile PB provide an opportunity for revenue generation and differentiated services.
By taking advantage of awareness obtained as a smartphone banking first mover and an opportunity to build network, the mobile financial industry should generate revenue before the mobile financial market become red ocean: The industry should provide mobile coupons through partnership with large on-and off-line distribution companies
Since mobile banking services are just an alternative of the existing on-line banking service, it is hard to generate revenue. Accordingly, the industry should focus on customer retention through personalized services - 'customized financial products,' 'mobile PB,' and 'personalized video banking.'
Mobile channels should be used to serve customers or sell products through SNS including twitter.
The mobile financial industry should take advantage of helpdesk or marketing channels for financial products to raise customer satisfaction, collect information for the development of products and promote products.