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.11, 802.16 and 802.20 standards.15Time.com16February 2008: ICM Research found 16 per cent of Brits had changed banks(sample size 1,006) because they were unhappy.This is compared with theUK divorce rates of 45 per cent (Source: UK Office of National Statistics).See www.icmresearch.co.uk17UserStrategy 2004 09 (Asia, Middle-East, UK analytics/surveys of majorretail banks), Alexa.com18Juniper Research forecasts total mobile payments to grow nearly tenfoldby 2013.19Juniper Research: Mobile payment transaction values $300b globally withinfive years20 In South Korea, All of Life is Mobile , NY Times, May 2009, http://www/nytimes.com/2009/05/25/technology/25iht-mobile.html?pagewanted=all21World Bank22GSMA.gsmworld.com23Edgar Dunn and Company.edgardunn.com24The Economist, 26 September 200925 Big Banks in Plot to Kill M-Pesa , Nairobi Star, 23 December 200826 Philippines mobile phone-based microfinance bank set for launch ,Finextra, 13 October 2009230 BANK 2.027Within the next 10 years, we will see e-paper and flexible OLED (OrganicLED) devices becoming quite common, removing size restrictions.28McKinsey Quarterly and GSM Association29Julia S Cheney,  An Examination of Mobile Banking and Mobile Payments:Building Adoption as Experience Goods , Payment Cards Center, FederalReserve Bank of Philadelphia Discussion Paper, June 200830Brandon McGee,  Absa Reaches 1 Million Mobile Banking Clients , MobileBanking blog, 23 February 200931Bank of India press release,  Mobile and banking services integration ,ECommerce Journal, 30 June 2008ATM and Self-Service Banking Convergence and Control7by contributing author, Michael Armstrong, former Senior Manager,Customer Propositions, HSBC Asia PacificSelf-Service Banking Where It All StartedTHE first mechanical cash dispenser was developed and built by LutherGeorge Simjian, and installed in 1939 in New York city by the City Bankof New York.Six months later, it was removed due to the lack of customeracceptance.The first self-service device of any note that was a commercialsuccess was the Automated Teller Machine launched by Barclays Bank in1967.That device relied on a prepaid token to retrieve envelopes witha fixed amount of cash within.From this relatively primitive beginning,ATMs have gone on to revolutionise the banking habits of most retailcustomers.The ATM solved one of the biggest problems for a retail/commercialbank, that is, the distribution of cash for customer withdrawals since itsmass launch in the 1970s in the US and most of the rest of the world inthe 80s.The ATM celebrated its 40th birthday in 2007, and today 75 percent of all cash in the UK is dispensed to consumers via the ATM.Cashmachines are an essential part of most consumers daily lifestyle.The invention of the ATM meant that one of the biggest fixedcosts in any retail banking operation the branch could be reducedthrough branch rationalisation (closures).In addition, the variable costcomponent staff could also be reduced.So, ATMs provided one of thebiggest one-off saving hits for branch banking.The automation of one ofthe basic functions of a bank not only reduced costs, but also increased232 BANK 2.0customer convenience, allowing access to cash 24/7.But this is where thestory seems to have ended for ATMs.While there was the initial big roll-out and the promise of furtherautomation of services through self-service, the promise has never reallybeen delivered.The early ATM machines allowed cash deposit, but in arather unsophisticated way.Customers were generally reluctant to placecash into an envelope, insert it into a machine, and then wait for verificationfrom the bank after the staff had counted it, maybe 12 hours later.Sure,ATMs have evolved in terms of their look, efficiency and speed, but theirfunction, on the whole, is still concentrated on cash delivery.What about the other self-service devices apart from ATMs? Theseinclude cash deposit machines, cheque deposit machines, stand-alonekiosks selling products, passbook update machines and instant balancemachines.These can be either incorporated as part of a branch or as stand-alones.They allow instant recognition of both cash and cheques and onlineaccount crediting, as well as instant sale of products.We will take a look atthe success factors for the various self-service devices.So, while the initial concentration on self-service was cost savings andprocessing efficiencies, the drift then moved to revenue opportunities.Asthe efficiencies that were created by the introduction of ATMs plateaued,management needed to look at revenue opportunities.Banks started withthe most obvious transactional features, kicking off with account transfers,bill payment and statement requests, but now are looking at the sale ofproducts through the channel.There have been much heralded instancesof banks selling products such as insurance through the ATM, but is thattruly viable?Self-Service the Promise and the RealityThe drive for efficiencyThe initial drive for banks to launch ATMs was to promote an innovativeimage in what was still a branch dominated world in the 1960s and 70s.There was little effort at migration of customers from branches to ATMsin an era of tight banking regulation in most of the world.ATM and Self-Service Banking  Convergence and Control233Regulation meant that banks were limited in what they could offerin terms of competitive interest rates, and with credit rationing, especiallyin housing loans, there were set quotas on what could be lent and at whatlevel of interest rate.In such an environment, there was little incentiveto be competitive.In effect, the banks were cross-subsidising theirservices, including branches, with the income earned on their lending anddeposit services [ Pobierz całość w formacie PDF ]