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The Future of Money
Where Mobile Technology is Taking Us
World Credit Union Conference 2013
Ian Shelley
BLACKLINE CONSULTING
Disruptive Technology
new technology that unexpectedly
displaces an established technology
eventually goes on to disrupt
existing participants
helps create a new market and
value network
Disruptive Technology
0%
20%
40%
60%
80%
100%
2007 2012
Android (Google)
iOS (Apple)
Other
Symbian (Nokia)
Disruptive Technology
2010
PC : 22%
Mobile:43%
2012
PC : 12%
Mobile:61%
2012
PC sales -9%
Q1 2013:
-13%
Disruptive Technology
Books and magazines
Cameras
Music players
Remote controls
City maps and GPS
Four Characteristics
► Mobile exchange of information
► Increases convenience
► Links to my digital life
► Consolidates
Four Drivers
► Changes in consumer behaviour
► New technology
► New competitors
► Standards and regulation
► Exchange of value
► Understanding security
Consumer behaviour
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Covenience
Ease of use
Security
Speed
Low cost
User expereince
Availability
Brand trust
Control
Scalability
Regulation
Other
New technology
► Credential
► Channel
► Communication
► Repository
► Consistency
► Interoperability
► Modernization
Standards and regulation
New competitors
Credential CommunicationChannel Repository
Retail revolution:
Starbucks-Square, Paypal-
Home Depot, Google
prepaid
Testing:
Visa Olympics, Project
Oscar, Natwest-iPhone,
NCR & RBS ATM
Mixed:
McDonalds-Paypal, miTaxi,
G&D sticker, Orange-
Gemalto
Cautious:
Interac-RBC
Code of conduct
Industry standard
Taskforce report
MintChip
Progressive:
Gemalto, Citibank, SingTel
RBA reform report
Westpac pilot
Transaction Functionality Data Integration
Transaction Functionality Data Integration
$- $1.00 $2.00 $3.00 $4.00 $5.00
Mobile
Online
ATM
IVR
Branch
Call centre
27%
Transaction Functionality Data Integration
66%PFM tools would strongly
effect remaining a customer
98%Retention rate for a US credit
union providing PFM
80%Prefer to manage their finance
through their FI
0% 10% 20% 30% 40% 50% 60% 70%
Low balance alerts
Fraud alerts
Payment due alerts
Other
Savings reminders
Refused to answer
Transaction Functionality Data Integration
► Date and time
► Location
► Credential ► Address
► Products
► Prices
► Receipt
Retailer
FI
Customer
Transaction Functionality Data Integration
Mobile technology will disrupt the payments ecosystem
You will have to adapt to a new set of competitors
Increase convenience, consolidate activities and integrate with other aspects of daily life
Find your space in the spectrum and the partners that can complete the solution
The range of products in the market will consolidate to a small number in the long term
