Mobile devices such as iPads and smartphones have opened windows of opportunities to better reach and enhance consumers’ experience.
In the banking industry, Citibank is the first to initiate what it calls the “smart-banking” model in the Asia-Pacific region.
New Citibank branches are equipped with interactive touch panels, video-conferencing capabilities and full-service banking from devices such as iPhones and iPads.
To stay wireless, Citibank’s smart banking model is also supported by telecom partners such as Vodafone (India), M1 (Singapore) and Chunghwa Telecom (Taiwan).
The Asia-Pacific region is an important market in terms of profitability and market share. Smart-banking aims to enhance users’ experience and to provide convenience for this expanding market.
When asked “Where do you see technology heading for banks?”, Jonathan Larsen, Asia-Pacific head for consumer banking at Citibank said:
“Speed, simplicity and ubiquity are guiding our use of technology. Banking works well through devices like Apple Inc.’s iPad for example, it is a good fit for us. We have had good success with the i-Phone too. As a bank there is a priority on using innovation and technology to serve our clients and we are getting better and better at utilizing operating systems on mobile devices.
We’re taking a hard look at what ATMs do, too. The whole field of authentication will get more sophisticated. Our challenge is how to make it easy to authenticate across multiple platforms. Most of the industry still relies on the paper format, all of that is unnecessary now—our new branches are paperless and wireless. We’re in the process of getting rid of all the forms and putting them all online. You can now apply for a credit card online without any paper forms—this was unthinkable 10 years ago.”
[Source: WSJ]
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