Temenos Connect Mobile Banking for Retail
Temenos Product Overview 2
Temenos Connect Mobile Banking for Retail A smarter approach to delivering mobile banking
T
he digital revolution is upon us and the impact on the banking industry is phenomenal. The adoption of mobile devices across the globe coupled with the rise in 3g and 4g data connections is transforming the ways in which consumers manage their finances. Mobile banking is the fastest growing channel in banking history, growing five times faster than internet banking and equating to 60% of all digital traffic in some large banks. The consumer is now in control, expecting a secure, rich customer banking experience conveniently from the palm of their hand whenever they want and wherever they are. There is a new generation of customer that has grown up with mobile device technology and consider it their natural channel for shoppi ng, socialising, entertainment and managing their finances. The ways in which banks leverage this mobile channel will be a key differentiator in how they attract and retain customers a nd ultimately increase customer wallet share. The mobile channel presents a massive opportunity for banks. It is a far more cost effective channel providing significant savings per transaction in comparison to traditional branch transactions. In addition, data can be gathered and analysed via the mobile channel and be used as a very powerful marketing tool. This drives customer intimacy through a better understanding of their buying behaviour, traits and lifestyle. It also enables banks to reach their customers at the point of interaction providing contextual, relevant and real time offers and services that enhance the overall banking experience.
However, along with opportunity, banks also face many challenges. For instance, the mobile device landscape is changing rapidly with new devices and models continually being released using different operating systems, and as technology evolves so do customer expectations. There is a need to provi de a customer with a consistent digital experience across web and mobile applications. There is also increasing pressure for IT to deliver banking apps quickly to gain competitive advantage and to meet consumer demands as mobile app usage continues to explode. For banks to succeed in this digital revolution they need to adopt a mobile strategy that will provide new levels of agility to respond to market opportunities, enable rapid speed to market, drive innovation and be sustainable for the future.
Temenos Connect Mobile Banking (TCMB) Retail TCMB Retail is a standalone mobile banking application providing rich pre-configured retail functionality fully integrated to Temenos’ leading core banking platform T24. TCMB Retail has been developed using our ground-breaking SmartHybrid technology solution for developing mobile applications that provide a near native experience with fully optimised performance and security. Looks, feels and behaves like native Developed as a SmartHybrid mobile application, TCMB Retail combines the very best of native and web technologies. TCMB Retail is available for iOS, Android and Windows phones, and provides a rich engaging user experience leveraging device specific features such as camera, phone book and GPS. TCMB Retail is underpinned by Temenos’ User Ex perience Platform, edgeConnect, which includes the SmartHybrid technology solution, providing a host of benefits to both to the bank and its customers.
Temenos Product Overview 3
An advantage of SmartHybrid developed mobile apps is that they only need to be developed once and can then be wra pped with native skins for specific phone types. This means that TCMB Retail fully utilises device specific features to provide the richest native experience for the customer whatever phone type they use. Another benefit is the ease in which the u ser interface of TCMB Retail can be amended and enhanced keeping the user experience fresh, relevant and engaging. The user interface can be easily customised by marketing professionals or business analysts, providing dynamic and personalised content with high fidelity, pixel-perfect layout thereby providing a near native optimum user experience.
Simple app distribution An important benefit to the bank is that only one skill set is required to enhance and maintain the app which is then pushed out automatically to the multiple platforms. This significantly increases speed to market, drastically reduces maintenance costs and improves productivity. It also enables banks to be agile enough to respond to new market opportunities driven by emerging device and web technologies, customer demands or perhaps new regulatory requirements that need to be addressed. This approach significa ntly reduces the complexity and cost of managing and distributing multiple apps for various phone devices. The actual screens are updated on a server, like web applications, which means that there is no need for the app to be re-distributed to app stores each time changes are made. It also means that the banking customer does not need to continually keep u pdating and downloading their mobile banking app. This makes app distribution much simpler and increases usage of the app through higher levels of customer satisfaction.
Optimised performance A major difference between hybrid mobile apps and S martHybrid apps is performance. Traditionally hybrid apps have compromised on performance to enable agility across multiple p latforms. However TCMB Retail inherits all the benefits of being underpinned by edgeConnect UXP, so not only is performance fully optimised, apps are enterprise scalable and security features a re stringent. This truly is a ground breaking approach in the development of mobile applications. Platform approach TCMB Retail is a standalone mobile banking application integrated with Temenos’ T24 however banks can choose to extend the edgeConnect platform enabling them to adopt additional digital channels solutions such as Temenos Connect Internet Banking (TCIB) and to enable in-house development of additional web a nd mobile applications across the enterprise. A single, consistent, UXP across all digi tal channels enables banks to provide a rich, engaging user experience across all customer touchpoints, accessible by whatever device type the cu stomer chooses. Banks will then reap significant development and maintenance cost savings and lower cost of ownership, along with increased speed to market and efficiencies from reuse of common business components across applications. This also leads to a simplified IT architecture enabling business agility now and in the future. With the device landscape evolving at a rapid pace, along with supporting operating systems and browsers, developing native mobile applications is not sustainable long term. Banks can be confident that as a result of TCMB Retail being underpinned by Temenos’ UXP, edgeConnect, and developed as a SmartHybrid app, their mobile banking app is future proofed to embrace new technologies. Banks can also be confident that both the u ser experience and performance levels are in line with a native experience that the customer demands. Innovation is absolutely key for banks to succeed in this digital revolution. Smarter banks will look at adopting a platform for developing both web and mobile applications that can evolve alongside technology advancements, enabling them to embrace new opportunities as they arise.
Benefits for banks • Quickly deliver a superior retail mobile banking app across multiple phones – iOS, Windows and Android • Reduce the complexity and cost of managing and distribution of the mobile banking app • Distribute a mobile banking app that fully utilises device specific features such as phone, camera, GPS • Deliver a near native experience, with highly optimised performance and stringent security • Easily amend and customise the user experience with dynamic content, using pixel perfect layout • Distribute the app through App Stores • Enhance the mobile app without the need to re-distribute the app saving users the task of performing large downloads • Rapidly respond to new market opportunities and customer demands • Meet the needs of the next generation customer, now
TCMB Retail functionality TCMB Retail provides rich, pre-configured retail banking functionality across all phone device platforms. The flexibility of the underpinning UXP enables banks to rapidly implement additional retail banking functionality if required and to easily apply their own branding. The functionality includes:
Pre-login • Finding the nearest bank branch or ATM • Exchange Rates User interaction and contact details • User greeting including last time successfully logged in • Maintenance of some personal details • Configurable quick log off actions such as shake to log off” or “turn phone face-down to log off” Messages • Send and receive secure messages to/from the bank • View message conversation history Product holding overview • Single view of retail product holdings such as current and savings accounts, loans and fixed term deposits Current and savings accounts • Summary account information including available balance and recent account transactions • Cheque cancellation, view cheque status and request for new cheque book
Payments • Transfer funds • Domestic and utility payments (one-off, future or regular) to existing or new payees • International payments (one-off, future or regular) to existing payees • Manage standing orders (regular payments) and future-dated payments • View and cancel direct debits Loans • Summary information including balance and scheduled loan repayments Term deposits • Summary information including balance and transactions Remote deposit capture Cheque image capture using the phone camera and remotely depositing it (optional and subject to licencing of 3 rd party component) Personalisation • Add nicknames to accounts • Configurable settings Integration with phone features • GPS for location (find nearest branch or ATM) • Accelerometer (“shake to log off”) • Gyroscope (“turn phone face-down to log off”) • Camera (if using optional remote deposit capture)
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