Consumer demand for mobile banking in the US is
on the rise, sending banks scrambling to provide a service.
ClairMail provided Charles Davis with insight into its
newly-launched mobile banking suite, QuickStart, which has been
specifically designed to fast-track banks into the market .
on the rise, sending banks scrambling to provide a service.
ClairMail provided Charles Davis with insight into its
newly-launched mobile banking suite, QuickStart, which has been
specifically designed to fast-track banks into the market .
Sensing a tangible increase in client demand
for mobile banking, US mobile technology developer ClairMail has
launched a new product suite aimed at getting participating banks
on board as quickly as possible.
for mobile banking, US mobile technology developer ClairMail has
launched a new product suite aimed at getting participating banks
on board as quickly as possible.
The ClairMail QuickStart offering is focused on
cutting down the time for new entrants to mobile banking to have
the handful of applications essential to introduce the customer
base and get them started. The QuickStart platform is agnostic as
to device – any mobile phone on the market can use the
system.
cutting down the time for new entrants to mobile banking to have
the handful of applications essential to introduce the customer
base and get them started. The QuickStart platform is agnostic as
to device – any mobile phone on the market can use the
system.
“We have packaged up all the functionalities
banks really are asking for and bundled it in a way that will get
them up and running quickly,” ClairMail vice-president of marketing
David Thompson told EPI.
banks really are asking for and bundled it in a way that will get
them up and running quickly,” ClairMail vice-president of marketing
David Thompson told EPI.
“It brings all the key components of mobile
banking in one place, at one price, so we can get a bank up on day
one.”
banking in one place, at one price, so we can get a bank up on day
one.”
QuickStart includes all of the basics – account
management, current account information, funds transfer, the
ability to schedule payments and pay bills, an ATM locator and a
branch locator. The suite includes a starter’s kit of alerts, from
low balances, deposit confirmations, cheques cleared and overdraft,
as well as allowing customers to set withdrawal thresholds from
checking or savings accounts.
management, current account information, funds transfer, the
ability to schedule payments and pay bills, an ATM locator and a
branch locator. The suite includes a starter’s kit of alerts, from
low balances, deposit confirmations, cheques cleared and overdraft,
as well as allowing customers to set withdrawal thresholds from
checking or savings accounts.
As with all ClairMail offerings, the
transactions and alerts can be delivered on all three mobile
interfaces – short message service (SMS), mobile web and client
applications.
transactions and alerts can be delivered on all three mobile
interfaces – short message service (SMS), mobile web and client
applications.
“The bank can add specific alerts and other
benefits as they go, but QuickStart provides the new mobile banking
player one platform with a single implementation,” Thompson
said.
benefits as they go, but QuickStart provides the new mobile banking
player one platform with a single implementation,” Thompson
said.
He added that ClairMail can flip the switch on
for most new clients inside 60 days, or even faster. As banks are
moving en masse to mobile payments, time is of the essence, he
stressed.
for most new clients inside 60 days, or even faster. As banks are
moving en masse to mobile payments, time is of the essence, he
stressed.
“We are really trying to capitalise on the
moment, and not take a lot of time here,” Thompson said. “Let us
simplify it down to something that has some real market traction,
and go as fast as we can. We can build out from there going
forward.”
moment, and not take a lot of time here,” Thompson said. “Let us
simplify it down to something that has some real market traction,
and go as fast as we can. We can build out from there going
forward.”
Response has been good, he said, adding that
ClairMail is riding a wave of interest in mobile banking these
days.
ClairMail is riding a wave of interest in mobile banking these
days.
“It is an issue that banks are really intensely
interested in right now, and banks get that mobile is the only
real-time communications channel these days,” Thompson said.
interested in right now, and banks get that mobile is the only
real-time communications channel these days,” Thompson said.
“SMS alerts are fundamentally different than
e-mail alerts, and a lot of people get to e-mail when they get
around to it. The real-time interaction is the difference
maker.”
e-mail alerts, and a lot of people get to e-mail when they get
around to it. The real-time interaction is the difference
maker.”
Thompson said that tough economic times make
mobile banking even more attractive, as people are monitoring their
accounts more closely than ever before.
mobile banking even more attractive, as people are monitoring their
accounts more closely than ever before.
“If there is uncertainty, information flow is
critical, and banks have access to people, so they can share
information in real time,” he said.
critical, and banks have access to people, so they can share
information in real time,” he said.
Feature-rich product
Go deeper with GlobalData
ClairMail QuickStart packages all critical aspects of a mobile
banking and payments production deployment into a complete,
feature-rich product offering. It also provides a useful array of
browser-based applications for banks to perform ongoing customer
support, reporting and maintenance operations.
Thompson added that QuickStart is also highly
customisable to showcase branding – from featuring a bank’s logo
and colour scheme in the mobile web or client applications, to
highlighting the bank’s name and custom short codes in SMS. This
all provides a bank-specific user experience. ClairMail QuickStart
also delivers a unique two-way channel for banks to reach customers
and for customers to reach their banks securely and easily from
virtually any mobile phone.
customisable to showcase branding – from featuring a bank’s logo
and colour scheme in the mobile web or client applications, to
highlighting the bank’s name and custom short codes in SMS. This
all provides a bank-specific user experience. ClairMail QuickStart
also delivers a unique two-way channel for banks to reach customers
and for customers to reach their banks securely and easily from
virtually any mobile phone.
“Supporting multiple modalities goes
hand-in-hand with banks’ strategies for achieving organic growth
and retaining customers, and it helps to lay the groundwork for
future revenue-generating services such as mobile payments,” said
Charul Vyas, an analyst in the emerging technologies unit of
consultancy TowerGroup. “TowerGroup recommends banks look for
supplier partners that can work with existing infrastructure and
have a robust and extensible product offering that can adjust to
the changing needs of the institution.”
hand-in-hand with banks’ strategies for achieving organic growth
and retaining customers, and it helps to lay the groundwork for
future revenue-generating services such as mobile payments,” said
Charul Vyas, an analyst in the emerging technologies unit of
consultancy TowerGroup. “TowerGroup recommends banks look for
supplier partners that can work with existing infrastructure and
have a robust and extensible product offering that can adjust to
the changing needs of the institution.”
TowerGroup recently recognised ClairMail as a
leader in the mobile banking and payments industry. ClairMail was
positioned as having the highest strategic extensibility of any
vendor and one of the best market execution ratings.
leader in the mobile banking and payments industry. ClairMail was
positioned as having the highest strategic extensibility of any
vendor and one of the best market execution ratings.
Thompson said that the two-way nature of SMS
and other text messaging services brings new opportunities for
banks and merchants to team up and offer real time marketing
pitches to consumers.
and other text messaging services brings new opportunities for
banks and merchants to team up and offer real time marketing
pitches to consumers.
Using ClairMail’s massive ‘events engine’,
which stores millions of transactional records from mobile banking
transactions, issuers of credit and debit cards can join forces
with merchants and send targeted ‘free money’ offers to
consumers.
which stores millions of transactional records from mobile banking
transactions, issuers of credit and debit cards can join forces
with merchants and send targeted ‘free money’ offers to
consumers.
For example, Thompson cited a mobile banking
customer who routinely spends $100 or more at a local home
improvement store. Using ClairMail’s database, the bank could
identify frequent the shopper and work with the retailer to send a
message offering, say, $20 off any purchase of $100 or more.
customer who routinely spends $100 or more at a local home
improvement store. Using ClairMail’s database, the bank could
identify frequent the shopper and work with the retailer to send a
message offering, say, $20 off any purchase of $100 or more.
Once the customer meets the retailer’s event
conditions, the events engine would generate a message at checkout
thanking the customer for shopping at the retailer and confirming a
$20 credit on the consumer’s card.
conditions, the events engine would generate a message at checkout
thanking the customer for shopping at the retailer and confirming a
$20 credit on the consumer’s card.
“We will use the events engine to see in real
time whether you then swiped your card at the retailer and thus met
the conditions, and if so, you will get a message before you even
leave the store,” Thompson said. “It is like an electronic coupon,
but much better targeted and can be measured instantly.”
time whether you then swiped your card at the retailer and thus met
the conditions, and if so, you will get a message before you even
leave the store,” Thompson said. “It is like an electronic coupon,
but much better targeted and can be measured instantly.”
Such applications promise to revolutionise the
banking industry’s relationship with consumers, Thompson
said.
banking industry’s relationship with consumers, Thompson
said.
“Phones are a different consumer experience,
and they are really transactional in nature,” he said.
and they are really transactional in nature,” he said.
“Access to information, and driving information
to the customer is a new way of thinking about the relationship.
Customers love alerts, they love being updated on the account, and
they love knowing that they are headed for an overdraft
situation.
to the customer is a new way of thinking about the relationship.
Customers love alerts, they love being updated on the account, and
they love knowing that they are headed for an overdraft
situation.
“That is real value, and it creates
communications channels banks have only dreamed of before.”
communications channels banks have only dreamed of before.”
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