Monthly Archives: October 2011

Bank of the future – part 1


BankEver since call centres and ATM’s where adopted as the first form of Alternative Channels banks have been looking for ways of offloading their branches and moving low value, high volume transactions to lower unitary cost channels.

The Internet promised to bring this offloading strategy to the next level, by providing a channel with unitary costs on levels a fraction of those in the traditional ones. Despite few honorable exceptions of institutions that have really given the Internet channel a life of its own, most banks have relied on alternative channels as a means of bringing down the operational costs, leaving the human interaction for the high-value commercial transactions and financial advisory functions.

This might have come to an end, thanks to two main factors that are driving a substantial change in the way banks interact with their customers: Mobile and Social Media.

Mobile: A life of its own

The exponential growth of mobile applications have finally created a channel with a life of its own, where customers are approached and serviced in a new way. Where services exclusive to this channel are offered, and where banks are fiercely competing to differentiate themselves. Mobile applications and the power of Smart Phones are allowing banks to expand their relationship with customers, no longer constrained to the provisioning of financial services, but providing an emotional link between them and the customers lifestyle.

It is not just about allowing you to make a payment easily, or to buy or sell shares on the move. It is about providing an offering that is meaningful for you, in the place you are, in the mood you are or in the stage of your life you are in. More and more advanced services are proliferating around mobile applications which deviate from the traditional approach of using alternative channels as a cost cutter.

Wisely used, mobile applications can help the bank be seen an enabler in the customers lifestyle, which is just what it should be.

Social Media: The focus shifted

Social Media has probably not created the concept of digital life, but definitely has helped bring it to a level where virtually anyone has a very complete digital life, which is no more than a reflection of one’s real counterpart. Sharing your real life in your digital one has become a habit for hundreds of millions. The activity in these media is such that companies can simply not afford to be there, where their customers life happens. Where customers express their views and opinions about companies and their experiences with them, and where the early adopters are already starting to do some good business.

The focus is radically shifted towards the customer, which now has truly become king, now yes, this being completely true. Now customers decide what, where and when. Customers decide how and where they give you feedback, and how and where they want to interact with you.

Yet another channel with a life of its own.

As suggested by the title of this post, more to come on very interesting forms of channels like QR Codes and Microsoft Tags, and possibilities opened by new technologies like Siri.

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iTV – Continued


Rumors intensifying and details being leaked suggest that bringing App Store to your TV set will not be the only killer feature in iTV. Following Apple’s philosophy on user experience, it seems that they have managed to completely revamp the overcomplicated interface of current TV sets.

Pile of remote controls

Pile of remote controls

It is not only the growing number of remote controls  you surely have on your coffee table, but also the complexity of them. On screen menus actually did not deliver any simplification, all of the opposite, they added more and more features hidden under long lists of complicated options. So will Apple be able to change this?.

If we take a look at their history, the answer is quite clear. There is one fundamental thing the guys in Cupertino have been able to do. They have been able to make technology that is not felt as technology, and does not look like technology. They look like sophisticated products that anyone can use and enjoy.

Computers that do not look like computers, and do not require any technical knowledge to be used. How many technical messages, data, black screens do you see when your Mac starts. How many of you upgraded to OSX Lion with a few clicks?. SmartPhones and Tablets with an incredibly natural user interface, that does not feel techy at all.

So when the TV set industry is going on a completely opposite direction, are they ready to really break this trend and revolutionize the way you use your TV?.

Siri

Siri

Think Siri. This might be the answer to the way they would want to approach the relationship between you and your TV. No more remote controls. No more buttons. Talk

to your TV.

Thinking about it, probably the TV is one of the first stops in a long conquering journey. Voice interfaces have been there for a long time, but never this natural. Siri is an impressive piece of technology that… doesn’t look like technology. Game changer.

 

 

 

 

iTV?


In the last decade there have been various attempts to renew the old glorious days when the TV set was the king of the living room. Despite set top boxes, which promised a basic level of interactivity, and

some applications built into gaming consoles like PS3, the TV has remained pretty much a one way lane ever since. Yes, higher quality, definition and even 3D, but still a one direction street.

Samsung Smart TV

Samsung Smart TV

Only in the last few years some manufacturers brought some built-in applications and even internet connection to their TV set offering, like Sony with some members of the Bravia family, but the offer was still very limited and fixed to the device, with very little possibilities of upgrade, which meant it would become quickly obsolete.

But then came Apple and introduced AppStore in 2008, not only making the process of buying, installing and upgrading software as simple as 1-2-3, but also creating an incredible appmania that has been conquering other platforms and devices. So it seemed only a matter of time that the format hit the TV, and Samsung did it.

Even though the figures are nowhere near the rocketing figures of applications sold for Smart Phones and tablets, there is clearly an appetite for these on TVs, with Samsung having served 5 million downloads in the first 15 months. Clearly the technology renewal cycle of TVs is much slower than that of Smart Phones, and whilst supporting apps might be a factor in choosing a specific TV over another, might not justify the renewal of your working set.

Samsung serves over 5 million apps

Samsung serves over 5 million apps

Other popular manufacturers are joining the apps wagon and are starting to launch TVs with apps capability, but what about the most powerful apps market out there?.

Google is also joining the trend with Google TV and offering perhaps a more open approach to enjoying digital, interactive content and apps on your TV, will they ever make the jump to manufacture a Google TV Display?.

Closing the loop

No rumor around that yet, but yes around Apple. For a couple of years, rumors have persisted that Apple was preparing a revolutionary TV set, which would bring together the traditional simplicity and elegance of Apple products, with their massive app store and the power of iTunes and its possibility (in some markets) of purchasing digital content.

From a device point of view, if the rumors around iPad 3 and its retina display are accurate, its resolution will be far higher than any Full-HD TV, so iOS is already capable of feeding such a screen while granting you access to hundreds of thousands of applications. It supports WiFi, and has a front camera for doing videoconferencing over facetime. Can you imagine a better place to do facetime than your TV?.

Whilst all of these would probably justify consumers to turn their eyes on to an eventual Apple TV Display (not to be confused with the current Apple TV), Apple could possibly be behind something bigger. Think iCloud, iTunes and iTV (should they give it that name) all together. Looks like the perfect way of closing the loop of the iFamily, doesn’t it?.

Subscription

iTunes might start offering subscription services on which you might be access to all the content available via streaming, from any of your iDevices, including your brand new iTV. iCloud would allow you to store and share your existing, downloaded content and enjoy it full screen in the confort of your living room. Should they manage to do this with the quality, elegance and simplicity they usually do things, they could clearly do away with a big portion of the cable TV subscriptions.

The device

Only rumors from here onwards, but most of them point to iTV as the name of the device, and late 2012 as the launch date, with a huge 55 inch OLED screen to enjoy your apps and content from iTunes. It would be powered by iOS as a super-sized iPad, but no information on wether it would be a touchscreen or not. Limited use for this from your sofa, but still would be nice to play Angry Birds at full size…

NFC beyond payments


The spread and adoption of NFC seems to be gaining momentum in the industry, with a number of terminals either supporting or having the intention to support the technology. With the exception of Apple, who still have to make a move in this space, most SmartPhone manufacturers are already shipping NFC-enabled devices, updated list can be checked here.

With strong support from key industry players like Visa or MasterCard, and with Google redefining the whole payments ecosystem, the late 2011 and early 2012 will see the consolidation of NFC as a standard feature in mid to high-end SmartPhones. Yet more to see if Apple decides to include the technology in their yet-to-be-seen iPhone 5.

While contactless payments will continue to be the source of growth for a number of years, however there are many other uses and applications that are strongly emerging, which promise a bright future for this technology. NFC is here to stay.

SmartPhones have been gradually conquering other devices space, replacing your agenda, phone, photo and video camera, business card holder… and even computer with very advanced applications being available out there in the respective appstores. The next thing to come is clearly your wallet, changing your old-fashioned plastic credit cards for their virtual counterparts.

Cash Cards have been successfully implemented in some markets, whilst others are still hesitant to make use of them. The burden of balance top-up is still something to be resolved. NFC can boost the usage of these, as they are really convenient for day to day micro payments where a contactless, signatureless payment can be really convenient. Vending machines, public transportation, paying a taxi or your coffee at Starbucks are likely to be done with a cash card, which now you will be able to store in your SmartPhone. And guess what, recharge it directly from your banking account too!.

But there is room for NFC beyond payments.

Merchants offering loyalty cards, with or without stored value can benefit of this technology. You have loyalty cards from a couple of airlines, half a dozen hotels, your favorite coffee shop and a myriad of other merchants. Now all of them can fit comfortably in your NFC-enabled phone, and you can easily track your points, miles and rewards easily in one single place.

Access Control through NFC

Access Control through NFC

Access control

Modern houses use cards and readers to access doors and gates instead of traditional keys, pretty much like you would see in any hotel. Wouldn’t it be nice to use your SmartPhone to access home?. And it would not stop here, home automation might be one of the next things to be conquered by your SmartPhone, so start guessing the possibilities here.

Anywhere requiring identification in the form of a card can benefit of NFC for access control, so will no longer have to carry your identification badge with you. Your phone does.

Information sharing

The next best thing is information sharing. In the era of Social Media, it is all about sharing. Also in the physical world, where you are likely to exchange your business card when you meet someone, give your phone number or your facebook profile to someone you just met, or leave your card to participate in the next lucky draw. All of them can now be done by putting your phone close enough, so you can transfer your contact details, social media profiles or leave a reduced version of your contact details on a merchant. How many times have you been asked to write down the same contact details on a hotel at check-in?. Guess what, never again.

And the last, yet best

Angry Birds Magic

Angry Birds Magic

It had to be Rovio and in had to be Angry Birds to give us the latest example of NFC. The latest version of their ultra-popular game, still only available on the new NFC-enabled Nokia C7,

allows gamers to contact other gamers to unlock new levels of the addictive game. Fun?.

iSad, iLoss, iThanks


This is the post I would have never liked to write. There is nothing I can add to all that is being written and said about him, but I still wanted to pay a small tribute to the man that changed our lives.

iSad, iLoss, iThanks.

Rest in Peace, Steve

Steve Jobs

Steve Jobs

Does Apple bet for NFC?


There is something I quite missed on today’s Apple event. It was not Steve Jobs, and it was not iPhone 5. Actually, whether it was an upgraded iPhone 4 (as it finally turned out to be) or the long awaited iPhone 5, the feature I really missed is the NFC chip built into the latest object of desire.

NFC Enabled Phone

NFC Enabled Phone

Taking a look at the recent movements by Google, announcing Google Wallet and Offers, which create a whole ecosystem to make the most out of the NFC hardware, as well as the list of

iPhone 4S

iPhone 4S

manufacturers announcing -or even shipping- NFC-capable phones, it is surprising that Apple chose not to make a move on this space. The whole set of actors in the industry, from hardware and software manufacturers to card issuers, financial institutions and merchants are positioning themselves on what looks like one of the next big things in both Mobile Technology and Financial Services.

Apple is known for not leaving anything to chance, so either they do not believe in NFC (clearly unlikely, considering the push and support the technology is getting) or they are preparing something really big that is worth waiting for their next generation SmartPhone to be unveiled.

So is Apple preparing a move similar to Google’s in this space, by combining the hardware -probably linked to the iPhone 5 launch sometime next year- with a complete ecosystem of applications and platforms to cover the whole, end to end payment experience?. Is it wise for Apple to reach the market at least half a year later if they want to have a predominant position in this space?. Time will tell, but it looks that either they have an ace under their sleeve or it will be a big leap to cover if they wait for iPhone 5 to step in.