Tell us about your role at SAP?
My title is of Omnichannel Banking Director and I work as a Solution Manager within the Banking Industry Business Unit (IBU).
My role is three-fold. First, I support the teams of Account Executives (AE) and Relationship Managers (RM) who are actively selling and supporting customers in the field. The support activities vary from providing product expertise, to conducting demos, to supporting sales opportunities, to responding to RFPs, to providing on-sight assistance for banks working on Omnichannel strategies.
The second area of focus is in Product Management (PM), which is active management of feature backlogs, enhancement requests, and strategic alignment of product releases to the IBU strategic goals and objectives, and feature prioritization.
The last area of focus is Product Marketing, where I support Trade Shows, manage product collateral, and support the Analyst community on product features and differentiators.
Could you give us some background on the mobile financial services offered by SAP?
SAP has four main areas of focus within the FSI space – Mobility, Cloud, Analytics, and Big Data. In each of these areas, SAP brings to bear a variety of solutions including SAP Core Banking, the SAP Mobility Platform (SMP), Real-time Analytics, the SAP Financial Services Network (FSI), Omnichannel Platform, Real-time offer Management (RTOM), and HANA in memory computing. All of the above can be delivered securely on customer premise, in the SAP Cloud or utilising a combination of the two.
The SAP Core Banking supports account and deposit management as well as loan origination, management and administration.
The SMP platform enables a bank to provide B2C and B2E mobile solutions to their customers and employees in a scalable, high performance, and maintainable platform.
Real-time analytics consumes data across the banking organization and provides real-time decisions on risk, liquidity, account positions, and what-if scenarios.
SAP FSI – provide cloud based connectivity between banks and their commercial customers allowing a virtual direct connection for payments and back end processing between the bank and the business enterprise.
The SAP Omnichannel product provides digital banking services for Consumer and Commercial customers in a scalable, modular, highly reusable platform with consistent responsive design user interfaces across all channels.
The RTOM platform provides offer management and offer analytics to allow banks to provide offers that are highly relevant and personal to their users in the digital channel space. RTOM is often delivered with the Omnichannel product.
HANA for FSI allows banks the power and speed of in memory computing for analytics, offers, risk management, and customer servicing.
What do you perceive as the primary disruptive factors in mobile banking?
In Developed markets, disruption is occurring in the payments space and the mobility space. Banks are eager to reduce the churn of customers leaving banking payment rails to alternative vehicles such as PayPal, etc. To address this space, banks must deliver a rapid pace of innovative new features to keep the user community happy. To do so is requiring banks to re-examine the solutions already in place and address the number of silos that result in long release and development cycles. This is where Omnichannel is providing value – reducing the number of customer touch point and unifying the customer experience.
When Omnichannel is tied into Real-time Analytics and RTOM, customers are not only able to receive relevant and personal offers, but are also able to start a process in one channel and complete in another. An example would be a user who accesses the bank via their tablet, starts a loan application, then leaves the channel and later access via online. All the information in the loan application is orchestrated and the user can continue with the application without having to re-enter the previous information.
In the payments space, innovation is appearing as stored value accounts for pre-paid services offered by the bank. Banks have been losing the space on pre-paid instruments largely because of the cost of servicing low value customers and KYC concerns. By offering innovative self-serving KYC features, such as national identity / driver’s license image upload and then being able to access this information across all channels will help reduce risk, assist in compliance, and increase customer satisfaction and usage.
In emerging markets, the most disruptive innovation on mobility is using the mobile channel to help banks address the unbanked / under banked market referenced as “Inclusive Banking”. This disruption is taking two forms – the first is being able to provide core banking and deposit services on the mobile device. This is achieved through a combination of bank partners and distributors of banking products.
The second is being able to on-board these customers through mobility distributed through trusted banking partners. Key to both areas is cost. As such banks are seeking alternatives to core banking management and this is where the SAP SMP Mobile Banking provides a solution. A good example of where Inclusive Banking is happening and where SAP solutions are being used is here.
What do you like best about Juniper Research’s research into the above sector?
Juniper Research provides an assessment of the disruptive factors rather than feature function comparisons among solution providers, which is much more relevant and of interest to the banks.
Banks are looking to learn how to “sweat their assets” by getting more out of these mobility investments rather than deploy yet another silo’d solution. Omnichannel is emerging as a key trend for banks since it addresses connecting to customers not matter the channel.