How the mobile is transforming Financial Services

1. Mobility Needs in Financial Services 20 June 2008

2. In this session: We’ll talk about… Employees’ mobility needs in financial services firms Field and sales team needs in particular Near-term trends: things are happening already today Stories from the trenches about mobility needs in financial services Behaviours and trends “out there” that could potentially lead to a solution Not about… Mobile banking Mobile payments Mid-office needs Back-office needs Well established services Wild ideas Statistics Numbers Solutions you can start putting together tomorrow

3. Loan verification process Prepare schedule of visits Inspect collateral Prepare verification report Visit next client Visit client Inspect collateral Visit next client Inspect collateral Return to office File report and evidence

4. “ I prepare verification reports on-the-spot” Verification agents tend to put note their verifications and transfer these on to their systems at the office. One agent mentioned that he wrote the entire verification report on-the-spot. Sometimes, he would do this during his commute, but often, at the site. “ I may forget some of the missing documentation – even though it may be minor – if I put it off. This way, I have a complete record. And I can batch these notes together. Even if I don’t head back to the branch, I can batch them up and fill these in later .”

5. “ I leave myself a voice mail of the visit” Another agent saved time by dictating his notes on to his voice mail. “ I find it a lot easier to run through the main points to myself over the phone . It’s easier than writing it down or typing, especially when you’re on the move.” He types up the report using these notes when he is back at the office. “ Sometimes, I get an assistant to fill in the main points using my voice mail. Then I can expand on it.”

6. “ Pictures of assets are part of the report” Depending on the type of loan and the collateral, pictures of the assets are sometimes part of the documentary evidence required. These agents often carry a digital camera, take pictures of these assets, and add them as attachments to the verification report. “ I started using my mobile camera for this sort of thing. It’s got high-enough a resolution and decent memory. Very handy.”

7. Mobile = phone + laptop + camera + GPS Why can’t I just do all my work from out of the field?

8. Corporate sales process Identify prospective clients Allocate clients to sales team New client? Socialise with client Identify new opportunities Manage deal pipeline Track deal performance Y N

9. “ It’s a group effort” It’s not one person making the sale. The effort calls for at least product specialist who understands the complex deal structure, and an industry specialist who understands the kinds of risks the deal poses for the bank. “ I typically exchange documents with the deal team three to five times a day. It’s a nightmare without Wi-Fi nearby. And even then, logging on to the Intranet is a painful process.” “ I don’t want a mobile and e-mail. I want mobile e-mail.”

10. “ Managing the call schedule’s a nightmare” “ When I’m visiting a client at Bishopsgate, I like to pop by to see any nearby clients . But sometimes, it’s really hard to keep track of who’s a hot lead and if there are any new ones to look at.” “ We can rarely keep track of the exact status of each and every deal. It’s important to be able to quickly check the status if there anything pending from our side before walking into that room.”