In that post I suggested it was logical step for the Future of Banking but the problem would be convincing Banks they need to become Telcos. After all, one look at the complexity of becoming a Mobile Virtual Network Operator (MVNO) and the figures and they’d shrug their shoulders and say: “Why bother? Why make our life more complex for so little return on our investment?”
Today Bank Strategists are struggling to be stimulated by the hyper-connected activities of peer-to-peer lenders, mobile payment providers, Twitter, Facebook and online advice communities. So how much more difficult is it to convince them that they must evolve into Mobile Organisations?
Matsumoto Hideyuki has pointed out Banks have been very successful at driving Vertical, Horizontal and Time based efficiencies across the business through leveraging information technology to do more with less.
Not surprisingly the Banks’ Technology Strategists are looking to Mobile Phone Technologies to provide even further cost efficiencies in the future. The risk is the Mobile Phone may be much more than just a mobile technology platform that will help them to drive down their costs of doing business. Perhaps the question they should be asking themselves today is what happens if Mobile Phones become the new plastic?
It is interesting to discover then that Rabo Bank in the Netherlands, Bankinter in Spain and mBank in Czechoslovakia have all launched MVNO Banking services in recent years.
The presentation Rabo Mobiel, the bank in your pocket provides an insight into Rabo Bank’s first hand experience in entering into this new world of Banking 3.0.
You can also watch a couple of YouTube videos promoting the service Rabobank – Rabo Mobiel – Modern Bankieren and Commercial – Rabobank & Rabo Mobiel
If you are interested in the topic then you may also like to take another look at Dr Patrick Dixon’s video clip on the future of mobile banking or read a few white papers on how to set up an MVNO:
Posted on March 26, 2010
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