Mobile Banking: Evolution or Revolution?

222 Pages·2014·1.392 MB·English

by  Bernardo Nicoletti (auth.)

Mobile Banking
Also by Bernardo Nicoletti
L’IMPRESA MONDIALE: Nuove Strategie di Produzione (w ith Michael J. Baker,
Kristian Moller and Stephen T. Parkinson )
STRATEGIA AZIENDALE E SVILUPPO TECNOLOGICO ( with Giorgio Eminente )
CASI DI ORGANIZZAZIONE E MANAGEMENT (w ith Franco Fontana and Marco
Lacchini )
I CIRCOLI DI QUALITÀ
LA GESTIONE DELLA QUALITÀ
MANAGEMENT PER L’EDILIZIA
ASSISTENZA TECNICA E QUALITÀ TOTALE: Come migliorare la soddisfazione
dei clienti e la redditività delle imprese di assistenza tecnica
GLI STRUMENTI DEL LEAN & DIGITIZE
LA METODOLOGIA DEL LEAN & DIGITIZE
SERVIZI AZIENDALI PRE E POST VENDITA
LEAN AND DIGITIZE
CLOUD COMPUTING AND FINANCIAL SERVICES
LEAN PROCUREMENT
Mobile Banking
Evolution or Revolution?
Bernardo Nicoletti
University of Rome ‘Tor Vergata’, Italy
© Bernardo Nicoletti 2014
Softcover reprint of the hardcover 1st edition 2014 978-1-137-38655-7
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in accordance with the Copyright, Designs and Patents Act 1988.
First published 2014 by
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ISBN 978-1-349-48166-8 ISBN 978-1-137-38656-4 (eBook)
DOI 10.1057/9781137386564
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To my father, who loved me so much and initiated me
into banking
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Contents
List of Illustrations x
List of Abbreviations and Acronyms x i
Introduction 1
1 Innovation in Financial Services 4
Introduction 4
Challenges for financial institutions 5
Mobile banking for a new model for financial
institutions 6
Financial institutions in the near future: evolution or
revolution? 12
Smartphonatics 14
New delivery channels 1 5
Conclusions 1 6
2 Mobile Banking 1 9
Introduction 1 9
A Lean and Digitize way to do banking: mobile banking 1 9
The value of mobile banking 2 8
Critical success factors for mobile banking 3 3
Architecture design 35
Analyze and process design 4 2
Payment services 6 2
m-POS 6 8
Mobile wallet 6 9
Mobile-only banks: another revolution in banking 7 1
Verify 7 5
Conclusions 7 8
3 Management of Mobile Banking 8 0
Introduction 8 0
vii
viii Contents
The economics of mobile banking 89
Conclusions 94
4 Opportunities, Challenges, and Remediation 9 6
Introduction 96
Mobility, risk, and change 98
Opportunities 9 9
Challenges 9 9
Remediation 102
Conclusions 1 04
5 Regulatory Framework for Mobile Commerce 1 05
Introduction 105
Regulations on customer and data protection 106
Mobile banking and mobile commerce 110
Conclusions 111
6 Mobile Security 1 12
Introduction 1 12
Challenges of mobile security 1 13
Potential threats 113
Consequences 115
Controls 1 16
Countermeasures 1 16
Security software 117
Penetration testing 1 22
Security recommendations for mobile banking 1 23
Conclusions 1 25
7 Mobile Banking throughout the World 126
Introduction 126
Mobile banking in the Americas 1 27
Mobile banking in Asia 130
Mobile banking in Europe 131
Mobile banking in Australia 137
Mobile banking in Africa 1 39
Conclusions 1 40
8 The Future 142
Introduction 1 42
Contents ix
N etwork technologies 143
W earable handsets 143
C loud computing 1 43
F uture functionalities in mobile banking 146
( Big) data 1 48
I mplementation 1 59
C onclusions 161
Conclusions 162
Innovation in products 1 62
Innovation in processes 1 64
Innovation in organizations 165
Innovation in business models 1 66
Glossary 1 70
Notes 1 86
References 1 93
Index 2 05