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Mobile Banking: Trends in Technology, Innovation, and Equity

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A one-day colloquium at Stanford University

CLICK HERE to download the colloquium packet with the AGENDA and important PARKING information

Mobile banking is fast becoming the main linkage connecting financial services clients and providers. Throughout the financial services industry, commercial banks, credit unions, credit card and payments services, wealth managers and brokerage firms are seeing clients – especially Digital Native Millennials and later generations – prefer simpler user experiences with trusted information services, and willing to experiment with customized niche services.

Mobile adoption and reliance is particularly strong among younger consumers: 34% of mobile owners use their smartphone as their primary internet device, while fully half of 18-29 year olds do so (Pew Research 2013). Further, 70% of mobile bankers say that digital banking is sufficient for their needs, according to Javelin (2014). Crowd-funding of business and personal loans and mobile dashboards to third party banking, finance and insurance products are gaining customer loyalty.  However, financial illiteracy continues to marginalize low income, immigrant and other at risk populations, miring them in intergenerational debt. The colloquium will further explore themes like: 

  • Dissecting Mobile Banking
  • Connecting Mobile Hardware with Financial Management
  • Letting Customer Stories Self-Organize Financial Services
  • Raising the Level of Transparency in Financial Services
  • Building Feedback Loops
  • Closing Inequality Gaps


Mobile Banking As It Should Be

David Fetherstonhaugh - IDEO: Mobile is just getting started. Fetherstonhaugh, an expert in human-centered design and financial wellness, shows how to start telling new stories about banking, stories that extend beyond products and rates all the way to human decisions around storing, spending, and borrowing money. And he challenges the group to go beyond mere features to explore how the devices that are always with us can help us make the choices that are good for us. 

Mobile for Member Benefit

Bruce Cahan - Founder, Urban Logic and co-founder of the Sustainable Banking Initiative at Stanford University: If you follow all your competitors, you’ll look a lot like all your competitors. Cahan, author of Filene’s Choosing Relevance: How Credit Unions Can Harness Transparency and Show Impact, challenges you to use mobile to help members in the true spirit of the cooperative model heal financial wounds, and anticipate and rebuild after lifecycle events, while navigating their families' day-to-day needs. 

Science-Based Banking

Michael Lepech - Assistant Professor, Stanford University: Sustainability indicators include a comprehensive set of environmental, economic, and social costs that can be incorporated into credit ratings, and loan and investment products. Mike Lepech is helping to bringing engineer’s perspective use scientific measures of impacts to reward responsible financial transactions.  

Beyond Mobile: Blockchains Explained

Susan Athey - Economics of Technology Professor, Stanford Graduate School of Business:  Susan Athey studies the technologies that move value in digital form. As a consensus ledger, blockchains are powerful distributed accounts, disintermediating the traditional roles of banks in issuing currency for value. Susan is on the cutting edge, as a GSB researcher, economist, and an advisor to Ripple.

Banking Without Borders

Ryan Caldwell - Founder and CEO, MX: Ryan directs MX's strategic vision and leads its talent team towards ever increasing levels of performance for its customers, partners, and shareholders. Ryan has worked for the smallest hot startups and the largest Fortune 500 companies.

From Idea to Action

Matt Dean - Founder, Trabian: Mind the gap between ideas and execution. In the real world of budgets and timelines, getting a great idea into production requires discipline and, often, partners. Matt Dean, CEO of Trabian, shows how to make smart tradeoffs among buying, building, and partnering to build your mobile ideas.

Intellectual Property Issues 

Stu Soffer - iPriori: Whose Intellectual Property (IP) rights are we using? Questions every Chief Executive should ask about launching in-house or outsourced technology development projects.

Re-intermediation in financial services

Martha Russell - Director - mediaX, Stanford University: For years, financial services professionals have feared disintermediation as startups, competitors, and their own customers nibble at once core services like saving, borrowing, and payments. Trust and continuity are emerging touchpoints for new service offerings.  Martha Russell introduces re-intermediation, the notion that intelligently designed and priced simplicity is preferable to complexity of choice via a proliferation of mobile apps. How can good design, especially in mobile, add value and bring customers back to the fold? 

Additional speakers will be announced as they are confirmed.