Stocktrading from a mobile phone
Short summary:
Internet has grown online. stocktrading has exploded. in popularity. BBVA estimates. that one quarter of all trans. actions carried out by stock ...
Long summary:
Stocktrading from a mobile phonePage 1ICT SOLUTIONS AND SERVICESCase Study Application ReplatformingStocktrading from a mobile phoneBBVA is a major financial institution based in Spain serving 35 million customers in over 30 countries. BBVA Net is the groups online service that allows customers to access their accounts and carry out transactions over the Internet. As public confidence in the Internet has grown online stocktrading has exploded in popularity. BBVA estimates that one quarter of all transactions carried out by stockexchange retailers are now conducted over the Internet.Advances in mobile technologyOver the last 10 years retail banks have served their customers through three primary channels telephone the Internet and in person at the branch. Mobile phone technology however was used only as a secondary channel to send text messages informing customers of account details and special offers. But now major advances in mobile technology (such as increased bandwidth and faster data download capabilities of 2.5G and 3G phones) have made it possible to provide Internet stock exchange products and services on an advanced mobile terminal.Spotting opportunityWhile many companies were continuing to focus on the three primary channels BBVA saw the mobile phone as a real opportunity. We wanted to seize greater market share by differentiating ourselves from our competitors says BBVAs Director of EBanking Laurentino Carballs. Further exploiting the mobile phone channel seemed like the best strategy. To expand the BBVA Net online banking service BBVA wanted to enable all its customers to trade stocks over their mobile phones from any location a goal that was perfectly aligned with the companys valueadded proposition: to deliver personalised costeffective and mobile services.Executing the strategyWe had a general idea of our strategy but we needed to find a reliable partner to help us implement it says Carballs. Thats why we called in Getronics. With their extensive IT ...
Source: www.getronics.com
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