Project 5

Mobile banking —

without the bank?

http://www.bbc.com/capital/story/20131217-mobile-banking-without-the-bank

Nicole Sobey Professor Klinkowstein

Selected Business Article


Selected Business Article

Selected Business Article Summary

• Banking with apps becoming popular

• Some are only in-app banks

• Apps specifically made for smartphones.


• In-app banks are popping up

world-wide.

• Students use apps to bank.


Setting/ When This Can Be Observed

Interview Questions

• What do you like and dislike about using

an app to bank?

• Do you prefer to use your phone to bank

or go to the bank to bank?


Interview Questions

• What do you normally use your banking

app for?

• Do you think that banking on your phone

is a convenience or annoying to do?



Students using phone apps to bank.

Ethnographic Research- Subject 1

• Likes to use the app to bank.

• Doesn’t have any complaints about

the app.



• Prefers to use the app unless she has to

deposit a check.

• Finds the banking app to be

very convenient.



• Likes to use the app and doesn’t have

any complaints about using it.

• Still goes into the bank and uses the app.

• Using the bank or the app depends what

she needs to do with her money.



• Uses the app to check balance, transfer

money, and deposit checks.

• Finds the app to be very convenient.



• Likes the app because of its convenience

to bank anywhere.

• Likes to go to the bank and use app,

depends on how much time is available.



• Uses app to transfer money.

• Thinks the app is very convenient and

doesn’t really have any complaints

about it.



• Dislikes app because it doesn’t feel

secure as going to bank.

• Likes app because its makes it easy to

transfer funds between accounts.

• Prefers to go to the bank instead of

using app.




• Uses app to transfer funds

between accounts.

• App is convenient, except for

depositing checks.


Conclusion

• Most subjects thought the banking apps

were convenient and enjoyed

using them.

• Most subjects did not have many

complaints about using banking apps.


Conclusion

• Most subjects found it difficult to deposit

checks while using phone app.

• Most subjects used the app to transfer

money from one account to another.


Proposal for an Innovative Business

• Touch- screen technology could

allow signatures to be written on

electronic checks.


• These electronic checks could be

delivered through wirelessly connected

printers or through the internet.



• Checks could be written for bank

branches or online- only banks.



Additional Research

• Phone apps do allow you to deposit

checks into your account, but there can

be technical difficulties.

Trying to Deposit Checks With My New

iPhone, Ann Carrns

http://bucks.blogs.nytimes.com/2012/08/14/trying-to-deposit-checks-with-my-new-

iphone/?_php=true&_type=blogs&_php=true&_type=blogs&_php=true&_type=blogs&action=click&module=Search

&region=searchResults#0&version=&url=http://query.nytimes.com/searc


• The online banking start- up Simple’s

app allows customers to see their

balance at a glance, find nearby ATMs,

deposit checks, as well as view and

categorize their past spending.

Simple’s Online-Only Banking App

Launches on Android, Adrianne Jeffrieshttp://www.theverge.com/2013/1/15/3877066/bank-replacing-simple-android-app-launches


Additional Research

• Banking on apps allows you are able to

check balances, pay bills, transfer funds,

receive alerts, and even deposit checks

on the go.

Is Mobile Banking Really Safe?,

Stephanie AuWerterhttp://money.cnn.com/2012/08/08/pf/mobile-banking.moneymag/


Additional Research

Tagline Study

• America’s Most Convenient Bank

• What’s in You Wallet?

• Putting People First


Existing Taglines

Tagline Study


Image Research

Tagline Study

• What’s in Your Account?


New Tagline

Tagline Study


Manipulated Background Image for Tagline

Tagline Study


Final Tagline Study

Project 5

Business

Transcript of Project 5