The mobile revolution is well and truly underway and many enterprises are facing the challenge of how to adapt to avoid losing out to competitors – both large and small – that are quicker off the mark.
Recently, CIC analysts Bola Rotibi and Clive Howard gained privileged access to senior staff and technical leads within Barclays to provide a unique insight into mobile transformation within a large traditional organisational environment. In CIC’s new Case Study we reveal the story of Barclays Pingit mobile payment solution.
Looking back to 2012 when the seeds for Pingit were first sown, it is hard to believe how a not very mobile advanced, financial institution like Barclays with the necessity to comply with strict financial regulations could move at speed to develop an innovative solution ahead of its peer competitors. Driven from the top in a bid to stem the potential loss of customers to the growing breed of more innovative technology companies that were disrupting the banking industry by focusing on customer experience, increasingly through mobile devices, the foundations for Pingit were laid.
The idea behind Pingit? To make payments as easy as texting!
Put simply, Pingit, is a mobile app that makes transferring money incredibly fast and easy. Pingit allows customers to pay their bills quickly and easily, whilst reducing cost to the business being paid. People can also make payments to suppliers, such as sole traders, or individuals who may not have the ability to process credit card payments.
What does it take to deliver a successful mobile app?
Behind the app is a story of business transformation that has significantly altered the way that the bank designs, builds and delivers software. Ultimately Barclays’ Pingit sets a thrilling benchmark for software innovation. It shows how the company unlocked internal domain expertise to develop and launch a commercial grade mobile app inside of 7 months.
As a proof point to Pingit’s success and innovation, the majority of the market only started to offer customers a similar mobile phone number payment method in April 2014 through Paym (now supported by Pingit) – over two years after Pingit first launched.
There can be no doubt that through its Pingit mobile app, Barclays has demonstrated that it can be an innovative company. In bringing Pingit to the market the company turned its traditional delivery processes on its head and dared to take a different approach in many ways.
CIC’s Barclays Pingit Case Study chronicles the transformation and entrepreneurial spirit shown by Barclays to deliver the app that has triggered a cultural shift within the company. To find out the cornerstones of Barclay’s Pingit success, particularly one that has resulted in over 3 million installs and has processed nearly £525 million in payments, get the full case study here.