1. Results from a Mobile Finance Survey

2. 2 2 Second survey sponsored by CheckFree with fieldwork in April 2008; First survey completed in March 2006 1,007 U.S. consumers at least 18 years old each using a cell phone at least once a week completed the survey 30% of respondents aged 21-34 years: Gen Y respondents 70% of respondents aged 35+ years: Older respondents The results represent the US online population of consumers using a cell phone and a PC using each at least once a week Presentation consists of two chapters: Findings for all respondents Findings specific to Gen Y The Survey

3. Mobile Finance among Cell Phone Users

4. 4 4 Mobile Finance Conducted by about One Quarter of Cell Phone Users Do you currently do any of these activities now using your cell phone or other mobile device? Which of the following activities did you do using your cell phone or other mobile device in the past month?

5. 5 5 Interest Levels in Mobile Finance Have Increased Considerably Since 2006 Survey Definition of Mobile Finance Consider that a service was offered that allowed you to do the following activities via your cell phone: Check your bank account balances Check your credit card balances and/or credit available for purchase Receive and pay your bills Send money to or receive money from friends and family Transfer money between bank accounts Locate a nearby ATM or bank branch Contact customer care of your financial institution If these financial services were available to you through your cell phone or other mobile device, do you think you would use one of more of them in a typical month?

6. 6 6 Checking Bank and Credit Card Account Balances Features Most Likely to be Used During a typical month, please indicate which of the following mobile financial services features you think you would use through your cell phone or other mobile device. Select all that apply.

7. 7 7 Significant Benefits: 24/7 Access to Account Balance; Access Services Anytime without Computer/Branch Among respondents who would consider using Mobile Finance during a typical month: What benefits do you see from accessing financial services through your cell phone or other mobile device?

8. 8 8 Significant Barrier: Concern about the Security of Accessing Finances Using a Cell Phone Among all respondents: What are your concerns about accessing financial services through your cell phone or other mobile device?

9. 9 9 High Acceptance of Alerts May Mitigate Concerns Would you sign up for the following text alerts if they were offered to you by your financial institution? These messages would be sent directly to your mobile device by your financial institution. Having bank or credit union sponsor Mobile Finance is preferred provider by 3/4s of those who would consider using it. Would alleviate concerns as well.

10. 10 Bank Overwhelming Favorite to be the Provider of a Mobile Finance Service Whom would you prefer to offer the financial services listed above on your cell phone or other mobile device?

11. 11 What Groups to Target for Mobile Finance: Gen Y Aged 18-34 Who Already Pay for a Monthly Text Messaging or Mobile Data Plan If these services were available through your cell phone or mobile device, do you think you would use one or more of them during a typical month? (% of each group saying yes shown below) Focus of rest of presentation due to greater interest

12. Why the Focus on Gen Y If these financial services were available to you through your cell phone or other mobile device, do you think you would use one of more of them in a typical month?

13. 13 Gen Y Much More Likely to Use Non-Voice Features of their Cell Phones Which of the following features of your cell phone service did you use last month?

14. 14 Gen Y Much Heavier Cell Phone Messagers regardless of Method EACH FEATURE SELECTED, how often did you use last month?

15. 15 Gen Y Higher Participation in Text Messaging and Mobile Data Plans Do you currently pay for a monthly text messaging plan with your mobile provider that allows you to send and receive a certain number of text messages each month? Do you currently pay for a monthly mobile data plan that allows you to access the wireless internet or other music / video services using your mobile device?

16. 16 Gen Y More Likely to Want to Check Credit Card Balance, Locate an ATM and Receive/Pay Household Bills Using Cell During a typical month, please indicate which of the following mobile financial services features you think you would use through your cell phone or other mobile device. Select all that apply.

17. 17 Among Users of Each Feature, Gen Y Thinks They Would Use Most Features More Often Potential users only: How often do you think you would use during a typical month? Previous surveys show that Gen Y households pay fewer bills on average than older households

18. 18 Gen Y More Likely to Use Mobile Finances to Help Manage and Control their Finances Among respondents who would consider using Mobile Finance during a typical month: What benefits do you see from accessing financial services through your cell phone or other mobile device?

19. 19 Gen Y Less Worried about Lack of Knowledge How MFinance Would Work, Coverage outside Area and Loss of Paper Trail Among all respondents: What are your concerns about accessing financial services through your cell phone or other mobile device?

20. 20 Gen Y More Interested in Receiving Account and Bill Pay Alerts Would you sign up for the following text alerts if they were offered to you by your financial institution? These messages would be sent directly to your mobile device by your financial institution. Having bank or credit union sponsor Mobile Finance is preferred provider by 84% of Gen Y respondents who would consider using it. Would alleviate security concerns.

21. 21 Gen Y Easier to Reach with Cell Phone Promotions; Willingness to Pay for MFinance about the Same as Older Households Please tell us how likely your would be to do each of the following activities on a 0 to 10 scale where 0 is not likely at all and 10 is extremely likely? %s Providing a 7-10 rating shown. Would you be willing to pay a small monthly surcharge (less than $5) to your bank or cell phone service provider to access and use mobile financial services?

22. 22 Gen Y Make Significant Use of Selected Banking Services that Could Be Performed Using a Mobile Phone Check balances 11.8 times 39% 3 or more branch visits last month 55 % pay 4+ bills using online bill pay 32% 3+ times access banks svcs using phone

23. 23 Summary Almost a quarter of cell phone users are already conducting some form of Mobile Finance This familiarity is translating into more interest in a prospective Mobile Finance service (3/4s of respondents would consider it, up from 49% two years ago) Security is a definite concern, but having Mobile Finance sponsored by a bank and providing security related alerts would help mitigate this concern Geny Y respondents more interested in Mobile Finance: More likely to have a mobile texting or data plan Less concerned about some barriers (e.g., losing paper trail) More likely to respond to promotions