Key findings from Corporate Insight's 2011 Mobile Finance Survey which polled executives from across the financial services industry. Survey topics touched on usability, customer experience, user satisfaction, development challenges and the impact of mobile technology on the industry.

1. A new look at market intelligence
2011 Mobile Finance Survey
Summary Findings
Presentation By: Dan Wiegand
June 2011
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2. About Corporate Insight
No one understands the intersection of technology and financial services like Corporate Insight. For two decades, we have
tracked new developments in the financial services industry through our syndicated Monitor research and consulting services.
We pride ourselves on identifying best practices in online banking and investing, online insurance, mobile finance, active
trading platforms, social media and other emerging areas. In the process, we have helped our clients – which include 70% of
the financial services firms on the Fortune 500 – to stay on top of industry trends and improve their competitive position.
We are known for our detailed, objective research, unmatched expertise, and emphasis on the actual user experience. There
are no assumptions in Corporate Insight’s work – we use live accounts at the firms we track to benchmark their effectiveness
across all major channels and give our clients unparalleled competitive intelligence.
Corporate Insight’s research and analysts are frequently cited in financial media outlets such as Barron’s, Bloomberg, CNBC,
Forbes, SmartMoney and The Wall Street Journal as well as news publications like the Associated Press, New York Times,
Newsweek, TIME and USA Today.
We offer a number of exciting social media and mobile finance reports and services including:
 Mobile Monitor
 Mobile Leaders Report
 Social Media Leaders Report
 Social Media & Mobile Finance eBook
For more information on Corporate Insight, visit us at www.corporateinsight.com.
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3. Executive Summary
Firms across the financial services industry are hard at work developing new mobile platforms and capabilities for their
clients. Our study, Money on the Move: Mobile Finance Review 2011, revealed an impressive number of developments in
the weeks leading up to its June 2011 release. Firms are rolling out apps for new devices like the iPhone, Android and iPad,
and new features for existing platforms, including remote check deposit and P2P payments.
To inform our initial research into mobile financial services, we conducted a survey, soliciting responses from our client
contact database of executives across the industry. Our purpose was to understand how firms view the opportunities
presented by the growth of mobile technology and to gauge future mobile trends within the financial services. We received
131 responses representing 47 different firms.
As expected, our findings showed that mobile development is likely to continue strongly into the foreseeable future. Fully
100% of respondents expect their firms’ mobile offering to improve in the next 12 months. They also identified which devices
in particular are targets for development, in particular the Android smartphone and tablets such as the iPad.
Respondents also shared their thoughts on their firms’ goals, challenges and measurements of success. Customer
satisfaction and retention are high on the list of objectives, as is branding and keeping up with the competition. On the other
hand, the number of devices to support is a significant challenge, especially when dealing with limited budgets and other
competing priorities. However, while ROI turns out to be difficult to quantify, the majority of respondents do feel the impact
has been positive.
The bottom line is that, while firms face significant challenges in developing their mobile services, their decision-makers see
the demand from their clients and competitors, and are making plans to continue to drive the industry forward in the mobile
space.
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4. Methodology
 We conducted a survey of financial
services executives as part of the research
for our mobile study – Money on the
Move: Mobile Finance Review 2011
 We posed 16 questions focusing on firms’
mobile efforts including:
 Does your firm offer a mobile formatted
website or app to clients?
 What do you think are the primary
objectives for your firm's mobile offering?
 How would you describe the impact your
mobile efforts have had on your company's
business?
 Survey was conducted in April 2011
 131 responses from 47 firms
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5. Respondents are from a mix of retail financial firms
What industry do you work in?
Annuity/Insurance (Life)
11%
Mutual Fund/Asset
Management
21%
Annuity/Insurance (Life)
Banking
Credit Card
5% Banking Brokerage
30%
Credit Card
Mutual Fund/Asset Management
Brokerage
33%
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6. Respondents are familiar with, and involved in, their
firms’ mobile efforts
 74% of respondents know of their firms’ mobile initiatives
 71% are directly involved in their company’s mobile efforts
 33% lead all or a portion of their company’s mobile efforts
Are you familiar with your firm's current or future Which of the following best describes your involvement
mobile offering for customers? with your company's mobile efforts?
I am unaware of
anything or am I lead my
not the right company's overall I work for a vendor that
person mobile efforts develops mobile
19% 8% I am not involved applications/websites
with my I am not involved with my
company's mobile company's mobile efforts
No, I know that Yes, I know that we are I lead a portion of efforts
we are NOT planning initiatives my company's 28%
planning mobile efforts I am directly involved with my
initiatives No, I know that we are 25% company's mobile efforts
7% NOT planning initiatives
Yes, I know that
I am unaware of anything
we are planning I lead a portion of my
or am not the right person
initiatives company's mobile efforts
74%
I am directly
involved with my I lead my company's overall
company's mobile mobile efforts
efforts
38%
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7. 76% of respondents say their firm already offers
clients a mobile platform
Does your firm offer a mobile formatted website or app to
clients?
I don't know.
2%
No
22%
Yes
76%
 Our Money on the Move: Mobile Finance Review 2011 study found that industry
averages are not that high, though
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8. …And most respondents think that’s a good idea
 A full 90% think it’s “definitely” or “probably” a good idea to provide their clients
with a mobile experience
Do you think that your firm should provide a mobile
experience to your customers?
Probably not Definitely not
3% 3%
Maybe
4%
Definitely
Probably Probably
20%
Maybe
Probably not
Definitely not
Definitely
70%
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9. 99% say mobile is important to customer experience
 81% “very” important, 18% “somewhat” important
How important do you think mobile is to your firm's
customer experience strategy?
Not Very Important
1%
Somewhat
Important
18%
Very Important
Somewhat Important
Not Very Important
Not at All Important
Very Important
81%
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10. In their own words…
“Everyone is mobile now and our competitors – direct
and indirect – have apps already or are developing them.”
“As more customers adopt smartphones/tablets
as their primary communication resource,
we need to provide them the information
in the format of choice.”
“Growing channel of choice, particularly for Gen Y.”
“Being able to provide an intuitive, fast and fully integrated mobile banking experience
is vital to our customer engagement, and also allows us to continue and deepen
engagement with our customers and keep them with our bank.”
“Customers really demand mobile solutions
catered to different devices.”
“Customers should have the choice as to which screen
they want to use in interacting with our business.”
“It is essential to offer mobile apps/tools in today's environment.”
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11. Firms offer mobile services for several reasons
 Increasing customer satisfaction is the key objective
 Customer retention, brand image and keeping up with the competition are also
cited as important reasons
 Acquiring new customers is a noticeably less important goal
What do you think are the primary objectives for your firm’s mobile
offering?
Increase customer satisfaction
Increase customer retention
Improve our brand
Keep up with the competition
Acquire new customers
0 1 2 3 4 5
Not Important Very Important
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12. Most respondents happy with their firm’s mobile offerings
 50% think they are above average or best in industry
 An additional 29% say they’re just average
How would you rate the overall mobile experience your
company CURRENTLY delivers to clients?
Considerably below The best in our
average in our industry
industry 8%
6%
The best in our industry
Slightly below average Considerably above average in our
in our industry industry
15%
Average for our industry
Slightly below average in our industry
Considerably
Average for our above average in Considerably below average in our
industry our industry industry
29% 42%
The worst in our industry
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13. Most respondents see no clear industry leaders at this time
Within your industry, who do you feel offers the best mobile
experience to customers?
The firm I work for
7%
Name of leading company
(see next slide):
29%
The firm I work for
There is no clear leader at this time
None of the firms we
compete with have None of the firms we compete with have
implemented a mobile implemented a mobile platform
platform There is no clear leader at Name of leading company (see next slide):
2% this time
62%
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14. However, some firms were singled out as industry leaders
Note: Larger font = more mentions 14

15. No one is resting easy
 No one is content with the status quo – 100% say the quality of their firm’s
mobile offerings will improve
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16. Firms planning to add platforms for new devices
 The next 12 months should see even more activity than the past 12 months
 iPhone apps should become universal, with Android phone apps close behind
 Windows Mobile low penetration to date but growing
 Firms over-reporting their current iPad app offerings, but almost all see the demand
 50% of firms planning to add apps for the Android tablet
 BlackBerry tablet – one mention in “Other”
Does your firm support the following platforms?
100%
75%
Response %
50%
Currently Using
Planning to add
25% Not planning on using
Not Sure
0%
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17. Firms face significant challenges with their mobile efforts
 “Other competing priorities,” “Too many platforms/devices,” “Budget” all high on
the list
 “Low adoption by customers” is not perceived as a major challenge
To what extent are each of these issues a challenge to your firm’s mobile
efforts?
Other competing priorities
Too many platforms/devices to support
Budget
Confusion about how to develop strategy
Lack of important skills in the organization
Low adoption by customers
Executive/Sr. Management support
0 1 2 3 4
Not Challenging Very Challenging
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18. But many already see a positive impact from their efforts
 Even if they aren’t “industry leaders,” 68% of firms have seen a somewhat to
very positive impact on their company’s business, courtesy of mobile
 Nearly a quarter (23%) think it’s still too early to gauge the impact
 Very few (2%) think their mobile efforts have negatively impacted their company
How would you describe the impact your mobile efforts
has had on your company's business?
Very negative impact
I don't know
2%
2%
Minimal or no impact
5%
It's too early to tell
It's too early to tell Somewhat positive impact
23%
Very positive impact
Minimal or no impact
Very positive impact Somewhat negative impact
37%
Somewhat positive Very negative impact
impact
31% I don't know
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19. Impact seems to vary by industry segment
 Brokerage industry execs were happiest with mobile impact – over 50% “very
positive”
 Banks more guarded, but still positive
 Mutual fund firms have the highest percentage saying their mobile efforts have
had minimal impact (18%) or not sure yet (36%)
Impact of Mobile Efforts by Industry Segment
75%
Respondents by Industry Segment
50%
25%
0%
Very positive impact Somewhat positive Minimal impact Negative (somewhat Too early to tell
impact + very)
Brokerage Bank Mutual Fund
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20. ROI metrics are still in development
 Only 21% say they currently measure the success of their mobile efforts
Does your company measure the return on investment
(ROI) of your mobile efforts?
We do not currently
measure ROI of our
mobile efforts
13%
We are actively
measuring ROI
We do not currently measure ROI of
21%
our mobile efforts
We are currently building metrics to
measure mobile ROI
We are actively measuring ROI
We are currently
building metrics to
measure mobile ROI
66%
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21. Connect With Corporate Insight
Contact Us
Bob Burlin Dan Wiegand
Director, Business Development Senior Analyst, Consulting Services
212-832-2002 x-115 212-832-2002 x-118
rburlin@corporateinsight.com dwiegand@corporateinsight.com
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