Atom Bank

Banking apps – Take DIGITAL Beyond this

Trends in digital design, developments in smartphones & omni-channel retail

In-branch productivity, customer analytics and Embedded Digital Banking

Phone is wallet – NFC chips, HCE(host card emulation), Apple Pay, “Tap to Pay”

Issue of Authentication

Gamified banking- reward users with points when they explore new services, to ones that unlock in-app game levels when saving deposits are made

As they begin to move from just using digital banking as a replacement low-cost channel, to using it as a competitive differentiator, they may start to think about releasing niche apps aimed at customer acquisition.

Financial Planning

*BLE is bluetooth low energy, known as iBeacon on Apple. A way to identify your location to within a few 10s of metres that doesn't drain your battery. This will be big in retail for shopper identification and targeting

It’s not just about understanding individual customer behaviour, it's also about optimising app and web user experience through A/B or multi-variate testing

The top trends to lookout for in 2015 are innovative customer acquisition and engagement strategies, data driven innovation, disruptive solutions in the payments space, convergence of regulations, emphasis on data management and new security frameworks for combating fraud and cyber security and disruptive innovations from non-conventional financial players.

According to a September report by the Boston Consulting Group (BCG), the IT spends of Indian banks have been rising to touch nearly 4% of their revenue. However, most of this spending has been to buy self-service machines, which is hardly enough for public sector banks to hold their position, the report noted.