News & Views - Savantor

More mobile initiatives

Monday, 16 May 2011

Electronic or digital wallets have been around in various forms for some time but seem to be undergoing a new lease of life recently.  Visa has just announced a digital wallet launching in the US and Canada this autumn.  The digital wallet will store Visa and non-Visa payments accounts and support NFC letting customers complete transactions online, with their mobile, on social networks and at the point-of-sale.  A survey from TNS has also shown that take-up of mobile wallets, where handsets are used to store money is increasing, albeit slowly, with adoption in the US moving from 6% in 2010 to 8%. In Singapore the rise was from 10% to 13% and in Hong Kong it was 16% to 17%.

There has been a 55% surge in the global use of mobile financial services in the last year, with emerging markets, notably China, driving the growth.  The survey shows that markets such as China, Brazil and Kenya have seen the number of new mobile money users rise over 100% in 12 months.  In China, 25% of those asked now use their handset for money matters, up from 10% in 2010. In Brazil there has been a rise from 10% to 21%, in the US 11% to 22% and the UK 10% to 20%.  China is now predicted to soon be the largest mobile payments market in the world by 2013 with 410 million users.

Other initiatives show the mobile is the way to go with BoA offering overdrafts by text, LTSB launching its mobile phone payment testing later this year and ING launching a feature which lets iPhone users transfer money to each other by tapping their phones together.  Mobile banking may even be a revenue earner with 18 – 26 year olds prepared to pay for it!

Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Expert Witness

"After searching extensively for the required industry expert in a complex litigation, Savantor was identified to have the necessary industry knowledge and expertise on a range of complex issues. Savantor provided clear advice and was able to quickly hone in on the key issues, but most importantly, generating pragmatic winnable answers."

Gavin Ingram, General Counsel & VP Strategic Planning - Global Blue - Asia Pacific

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

Acquirer Transformation

"We needed a programme manager for a complex transformation who also brought a broad understanding to help stakeholders through the change. We have been delighted with the delivery and outcomes from this engagement with Savantor."

Michael Liquornik, Executive Vice President - Neovia Financial - UK

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

Complex Multi-Country Migration

"This complex migration, undertaken simultaneously in Spain and Portugal, has been a complete success. Savantor has provided us with excellent support for over 3 years, both in the original business transformation programme and now this double migration. We value their open and honest approach to business, and of course the expertise that they bring."

Ricardo Gomez, Director, Operations & Technology - WiZink Bank – Spain & Portugal

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.