subject: The Mindset Behind Breeze Mobile Banking [print this page] Currently, mobile banking is an incredible banking and financial solution that has focused primarily on the large banks, those that have large enough assets to weather even the toughest financial challenges. However, these banks also need to spend as much as 33% of profit into declining or stagnant markets in order to stay in business. However, the smaller banks are also in dire need of innovative solutions for their customers.
Being able to reach around the world to connect with other people or companies, or to manage a business or finances online in a safe environment, have saved people in this busy society tremendous time, effort, and money. Although every aspect of the internet has proven to be a tremendous value, one in particular that has had a huge impact on individuals, but also business owners, is online banking and finance. Even this service has evolved over the years, allowing people today to use online banking in ways never before thought possible.
One reason mobile banking is so important to emerging markets has to do with a growing focus on unproductive uses that do nothing for the economy. For instance, if people looked at banks in the western world, they would quickly discover that the number one goal of most banks is to preserve, but also enhance employee wealth through a variety of innovations. While there is nothing wrong in rewarding employees and wanting to see them succeed, the number one focus needs to be on the customers and products such as mobile banking that would better their economy.
Ashnil Dixit was recently named as the "Breeze Person of the Month" for being among the members of the startup team who created the idea of this mobile banking application. However, he has played a key role in the product's vision, as well as working closely with the bank's IT specialists in getting the product to launch where it is currently being enjoyed. Of course, this application will soon be reaching markets in Hong Kong and India, as well as be offered on the iPad next month, followed by international markets. As Ashnil stated in an interview, the concept of Breeze was born after seeing some of the amazing banking and financial products coming from California's Silicon Valley, specifically products such as Yelp and Kayak. After reviewing the details of these products, he was so impressed at how these vital offerings were actually made to be fun for the customer to use. It was then that he and others starting thinking this same concept could be used within the banking and financial industry.
At first, the idea of Breeze was introduced to only a small group within Standard Charter Bank and even then, it was done in secrecy. Without money allocated for development, the goal of this meeting was to determine if building such a product was even feasible for this market. After building a prototype, the idea and functionality of Breeze was introduced to larger groups within the bank and it is obvious they too were impressed.
As a part of the development process, Ashnil and other team members knew they needed a name that would best represent the product itself. Keep in mind that two of the many aspects of the Breeze mobile banking are its ease of use and plain language. Knowing the bank would be offering customers something fresh, an application with cool, calming colors, easy language, and seamless navigation, Aman, the Group Head of Remote Banking came up with the name one day while walking down River Valley Road.
One of the primary differences between Standard Chartered Bank and all the products and services offered, specifically the mobile banking application that runs on the iPhone, is that bank officials have refused to follow trends. In fact, it seems that the more other banks develop trends and cookie-cutter solutions, the more encouraged Standard Chartered Bank is in finding something innovative and unique. Breeze is just one example of that mentality, coupled with the recognition that emerging markets need to be included.
