Global Mobile Banking Industry

• Publication date: February 2010

This report analyzes the worldwide markets for Mobile Banking in Millions (Number of Users).The report provides separate comprehensive analytics for US, Canada, Europe, Asia-Pacific, and Rest of World. Annual forecasts are provided for each region for the period 2006 through 2015. The report profiles 84 companies including many key and niche players worldwide such as Bank of America Corp., Barclays Bank Plc, BB & T Corp., Citibank N.A, JPMorgan C...

This report analyzes the worldwide markets for Mobile Banking in Millions (Number of Users).The report provides separate comprehensive analytics for US, Canada, Europe, Asia-Pacific, and Rest of World. Annual forecasts are provided for each region for the period 2006 through 2015. The report profiles 84 companies including many key and niche players worldwide such as Bank of America Corp., Barclays Bank Plc, BB & T Corp., Citibank N.A, JPMorgan Chase & Co., Lloyds TSB Bank Plc, The PNC Financial Services Group, Inc., Wells Fargo & Company, ClairMail, Inc, Firethorn Holdings, LLC, Fronde Anywhere Ltd., Fundamo (Pty) Ltd., Macalla Software Ltd., mFoundry, MI-PAY Ltd., Monitise plc, Monitise Americas, MShift, Inc., and Sybase Inc. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

Global Online Banking Industry

MOBILE BANKING MCP-6073
A GLOBAL STRATEGIC BUSINESS REPORT


CONTENTS


I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITION

Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-3
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3


II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW II-1
Multi-Channel Banking - The New Mantra for Banking Sector II-1
Comparative Analysis of Various E-Banking Channels II-1
Mobile Financial Services Market - An Overview II-2
Table 1: Mobile Phone Penetration in Select Countries
(includes corresponding Graph/Chart) II-2
Mobile Banking Market - An Overview II-3
Growth of Mobile Banking Across Geographical Markets II-3
Mobile Banking - At a Glance II-3
Mobile Banking - Serving the Un-Banked II-4
Current & Future Analysis II-5
Factors Influencing Mobile Banking Market II-5
Convenience II-5
Reduced Transaction Costs II-6
Factors Influencing Growth in the Mobile Banking II-6
Market Restraints II-6
Factors Restraining Market Growth II-7

2. MARKET DYNAMICS II-8
Expanding Mobile Banking Market - A Reflection of Changing
Banking Patterns II-8
Mobile Banking Opportunities for Various Market Participants II-8
Mobile Banking - Potential Growth Opportunities II-9
Integration of Mobile Phones & Self-Service Channels II-9
Personalization & Customization II-9
Location-Based Services & Loyalty II-9
Recession Fosters Demand for Mobile Banking II-9
Consumer Behavior and Usage Pattern of Mobile Banking Services II-9
Mobile Internet & Advanced Technologies Propel Mobile Banking
Market II-10
Factors Driving Adoption of Advanced Mobile Banking Services II-10
Growing Penetration of 3G and Smartphones II-10
Table 2: % of 3G and Smartphone Customers Using Mobile
Banking Services (2009): Breakdown for Web Browser, Client
Application and SMS-Based Service (includes corresponding
Graph/Chart) II-11
Mobile Banking: Technology Perspective II-11
Marketing Opportunities for Mobile Banking II-12

3. PRODUCT OVERVIEW II-13
Mobile Banking - A Conceptual Definition II-13
Prerequisites for Availing Mobile Banking Services II-13
Factors Influencing Banks’ Adoption of Mobile Banking Technology II-14
Classification of Mobile Banking Services II-14
Push & Pull Services II-14
Transaction-Based and Enquiry-Based Services II-14
Additive Banking II-15
Transformational Banking II-15
Delivery of Mobile Banking Services II-15
Mobile Banking with SMS II-15
Benefits and Drawbacks of SMS Banking II-16
Mobile Banking with WAP II-16
Mobile Web - Advantages & Disadvantages II-17
Downloadable Application II-17
Mobile Client Applications - Advantages & Disadvantages II-18
SMS with Mobile Web (SMS with WAP Push) II-18
SMS with Mobile Web - Benefits & Drawbacks II-18
Secure SMS II-18
Secure SMS - Benefits & Drawbacks II-19
Mobile Banking Business Models II-19
Bank-Led Model II-19
Bank-Focused Model II-20
Non-Bank-Led Model II-20
Mobile Banking Services - An Overview II-20

4. MOBILE BANKING - TECHNOLOGY COMPONENTS II-22
Technology Components of Mobile Banking II-22
Mobile Handset II-23
Role of Advanced Handsets II-23
Mobile Network Technologies II-23
Description of Select Mobile Channel Technologies II-24
Features of Mobile Channel Technologies II-24

5. CHALLENGES FACING MOBILE BANKING MARKET II-25
Security of Mobile Banking Services - A Major Concern II-25
Potential Threats Faced by Mobile Banking Services II-25
Security Provisions & Customers II-26
Interoperability II-27
Scalability & Reliability II-27
Application Distribution II-27
Network-Related Issues II-27
Lack of Common Standards & Regulations II-28
Customer Authentication II-28
Other Challenges II-28

6. PRODUCT/SERVICE INTRODUCTIONS II-29
Petra and Caxton FX Release Touchstone Mobile II-29
MMV and Citibank Release Citi Mobile Banking II-29
Telcel Teams Up with Banamex to Introduce SMS-Mobile Banking II-29
IFIC Bank Launches SMS Banking Service II-29
Lloyds Launches On Demand Text Balance Service II-29
Metavante, Monitise Introduce Text Message Banking Service II-30
Rwandatel to Launch Mobile Banking Service II-30
PSCU Launches Mobile Banking Service II-30
EFICI Unveils EFICASH™ II-30
Zain to Launch Mobile Banking Service II-31
Yes Bank to Launch ‘Pay Anyone’ Mobile Payment Solution II-31
Citibank and Telkomsel Introduce Citi Mobile-Thin Client II-31
Fifth Third Bank Unveils Mobile Banking Service II-31
MTN to Introduce MTN MobileMoney II-31
Citibank Launches Mobile Banking Service II-31
Sun Microsystems and C-SAM Launch New Mobile Banking Solution II-32
Commonwealth Bank Introduces Mobile Internet Banking Services II-32
NBD Unveils MoBanking II-32
Fiserv Unveils Mobile Money FastTrack II-32
MCB Unveils MCB Mobile II-33
Postbank Unveils Mobile Phone Banking Services II-33
Prudential Bank Unveils SMS Banking and Website II-33
Velcom and Priorbank to Introduce SMS- Banking Service II-33
Bangkok Bank Launches Mobile Internet Banking Service II-33
CO-OP Financial Services Launches Mobile Banking Solution II-34
Housing Finance Bank to Launch Mobile Banking Service in
Rural Uganda II-34
Telesom Introduces Zad Mobile Banking in Somalia II-34
mFoundry Upgrades mBanking Suite to Include SMS and WAP Modes II-34
Emirates NBD to Collaborate with Etisalat for New Mobile
Banking Service II-35
Mobilink Introduces Mobile Banking Service in Alliance with
Citibank II-35
CCU Upgrades Online Banking Suite with Mobile Banking II-35
Monitise Americas Unveils Mobile Money Functionality on App
Store II-35
CKI Launches Virtual Machine Mobile Banking Services in English II-36
Dubai Bank Introduces Dubai Bank Mobile Service II-36
Sybase 365 Rolls out Sybase® mBanking 365™ II-36
OCBC Bank Introduces Mobile Banking Service II-36
Harland Launches Cavion Mobile Banking Professional II-37
Barclays Bank Launches ‘Hello Money’ Mobile Banking Service II-37
Fiserv Unveils Premier Mobile Banking Solution II-37
SIB to Introduce Mobile Banking Services II-37
Corporation Bank & RCom to Provide Mobile Banking Service II-37
BOI to Launch Mobile Banking Solution II-38
Bank Sohar Unveils SMS Banking Service II-38
Bank of Ayudhya Unveils Krungsri SMS Banking Facility II-38
Suncorp Unveils Browser-Powered Mobile Phone Banking II-38
Bank of Sharjah and CR2 Unveil BankWorld Internet and Mobile II-38
Kinzna Unveils Mobile Banking, ATM Services II-39
SCB Unveils SCB Mobile Banking II-39
Verizon and Firethorn Unveil Mobile Banking Solutions II-39
Citibank and Indosat Introduces Mobile E-Banking Service II-39
Fidelity Releases FIS Mobile Banking and Bill Pay II-39
NAB Introduces SMS Banking Service II-40
Banco De Bogota Unveils Mobile Banking Service II-40
JSC Unveils Integrated Internet and Mobile Banking Platform II-40
UBI to Introduce Mobile Banking II-40
Banner Bank Introduces Mobile Banking Service II-40
E-Trade Unveils Mobile Banking and Brokerage Service II-40
BNB Unveils Mobile Banking Service II-41
Huntington Unveils Mobile Banking Service II-41
Wamu Releases Mobile Banking Service II-41
IBC Bank Announces Bilingual Mobile Banking Application II-41
Citibank to Launch Mobile Financial Services II-41
Cpni Upgrades PATbank Mobile Banking Platform II-42
Sprint Unveils MyMoneyManager II-42
ANZ Vietnam Unveils Mobile Banking Service in Hanoi II-42
CPNI Provides Upgraded Version of Mobile Banking Service II-42
Standard Chartered Introduces New Mobile Banking Solution II-43
ClairMail Announces ClairMail Mobile Banking Web System for
iPhone II-43
Telefonica to Provide m-Banking Services Across Latin America II-43
SBI, BOI and UBI to Launch M-Banking II-43
GCB to Launch Mobile Banking Services II-43
RBC Introduces Mobile Banking Services II-43
Lloyds TSB Introduces Mobile Phone Banking Services II-44
Equity Bank Unveils Eazzy 24/7 Service II-44
BoQ to Introduce BankLink Mobile II-44
Bellco Credit Union Introduces Mobile Banking Services II-44
mFoundry Introduces iPhone Mobile Banking Solution II-44
ICICI Bank Unveils iMobile II-45
Equity Bank Unveils Benki Yangu Mkononi Service II-45
IND Group Launches New iMobile Banking II-45
CFE Unveils New Mobile Banking Solution II-45
Verizon Unveils Mobile Banking Services for Major Financial
Institutions II-45
Firethorn Upgrades Mobile Banking and Payments with New
Functionalities II-46
AT&T Offers Mobile Banking on iPhone in Partnership with
Firethorn II-46
Vodafone Launches Vodafone Internet On Your Mobile Service II-46
VeriSign Enters Into an Alliance with Clairmail II-46
China Mobile Introduces Financial Information Services II-47
Satander Rio and Movistar Introduce Mobile Banking Solution II-47
Salem Five Bank Launches Wireless Mobile Banking Solution II-47
ING Direct Announces Mobile Banking Services II-47
Yodlee Unveils Mobile Banking Solution II-47
RBS Introduces Mobile Banking Capability II-47
Garanti Bank Introduces Mobile Banking Services II-48
IsBank Announces Mobile Banking Solution II-48
NYCE to Launch Mobile Banking and Payment Services II-48
Postilion Introduces New Postilion Mobile Solution II-48
Indian Bank Launches Mobile Banking Service II-49
Wells Fargo Introduces Mobile Text Banking II-49
Bci Introduces Mobile Banking Solution II-49
EverMobile Unveils Integrated M-Banking, M-Payment Application II-49
Industrial Savings Bank Introduces Mobile Banking II-49
Cardinal Bank Launches Free Mobile Banking Service II-50
Banrisul Introduces Mobile Banking Service II-50
Cingular Wireless to Launch Mobile Banking Service II-50
RBS Introduces Mobile Banking in Yorkshire II-50
Banco Frances Launches Mobile Banking Service II-50
Online Resources Launches Mobile Banking and Bill Payment
Service II-50
Bank of America to Introduce Mobile Banking Service II-51
USAA to Offer Firethorn Mobile Banking and Payments Solution
to Customers II-51
AT&T Launches Mobile Banking Application II-51
BIBD and DST to Introduce SMS Banking II-51

7. RECENT INDUSTRY ACTIVITY II-52
Wells Fargo Merges with Wachovia II-52
PSCU and FSCC to Provide Mobile Banking to Credit Unions II-52
mFoundry Introduces Comprehensive Three Mode Mobile Banking
Solution II-52
Arvest and BancorpSouth Adopt Firethorn’s Mobile Banking
Application II-53
Fiserv and M-Com Collaborate to Develop Fiserv Mobile Money II-53
Monilink Mobile Money Service Available on Smartphones II-53
Monitise Forms Indian Subsidiary to Offer Services in India II-53
Sybase Acquires paybox Solutions II-53
Monitise Completes Acquisition of Monilink II-54
Monitise Inks JV Agreement with Made in Africa II-54
Monitise Partners with Paynet II-54
Monitise Enters into an Alliance Agreement with Visa II-55
Citibank Pakistan Enters into an Agreement with Mobilink II-55
Sevenval Forges Mobile Banking Partnership with Wincor Nixdorf II-55
VTFS Inks License Agreement with Security First Bank II-56
ICICI, TTSL Form Alliance II-56
Alliant Deploys mFoundry and PSCU Mobile Banking Solution II-56
Veridian Deploys ClairMail Powers Mobile Banking Solution II-56
NYCE to Provide Mobile Financial Service to Financial
Institutions II-57
Sybase 365 Partners with C-Sam to Expand Mobile Banking Platform II-57
Monitise to Provide Mobile Banking Solutions to Five
Financial Institutions II-58
ACI Offers Mobile Banking Suite in Association with mFoundry II-58
Rakuten and Tokyo Tomin Bank Set up Online Banking Branch II-58
NAB Partners Telstra to Offer Mobile Banking II-58
SK Telecom and CitiGroup Joint Venture to Offer Mobile-
Banking Services II-58
Vodafone UK and Yodlee Collaborate to Provide Mobile Banking
Solutions II-59
CCFCU Selects mFoundry for Mobile Banking Services II-59
Monitise and Made In Africa Form JV for Mobile Banking and
Payment Services II-59
Monitise and Everlink to Offer Mobile Banking and Payment
Services II-59
Monlink and UK Retail Bank Sign Contract for Mobile Banking
Services II-60
BECU to Provide Mobile Banking Services II-60
Diemo Selects XIUS-bcgi Mobile Services Platform II-60
Obopay Inks Agreement with Grameen Solutions II-60
Warid Telecom Signs Agreement with BRAC Bank for SMS Banking
Services II-61
Alerus Selects ClairMail to Support Launch of Mobile Banking
Service II-61
SBS Inks Agreement with IDB to Advance Mobile Banking
Services in Peru II-61
Axiom Partners with Vipera for Mobile Services Division II-61
PNC Selects ClairMail to Extend Mobile Banking Services II-62
NCR Agrees to Provide Mobile and Online Banking Services to
Hanmi Bank II-62
Fiserv and M-Com Enter Into a Deal II-62
eCommLink and Monitise Partner for Mobile Money Services II-62
Monitise Americas Adds Extends Partnership II-62
APX Network Enters into an Agreement with QSPAN II-63
Essar Acquires Minority Stake in Obopay II-63
Citi Cards Enters into Strategic Relationship with Firethorn
Holdings II-63
EverMobile Forms Alliance with RIM II-63
Intercredit Bank Deploys ClairMail Mobile Banking Solutions II-63
FIS, mFoundry and ClairMail Inks Deal to Launch Advanced m-
Banking Service II-64
SSL Wireless Inks Deal with Islami Bank for Mobile Banking
Solutions II-64
Celcom Selects paybox to Unveil Mobile Payments and Banking
Services II-64
Celcom Selects paybox to Unveil Mobile Payments and Banking
Services II-65
Amdocs and Bankinter Release Mobile Banking Services II-65
BB&T Enters into Alliance with mFoundry and ClairMail II-65
Verizon in Strategic Partnership with Firethorn II-65
Qualcomm to Acquire Firethorn Holdings II-66
Gemalto and Redeban Unveil M-Banking Service II-66
Monitise Signs Joint Venture Agreement with Metavante Corp II-66
Bharti Telesoft Signs Agreement with Barclays Bank II-66
Fidelity Inks Deal with mFoundry II-66
Claro to Sign Deal with Brazilian Bank II-66
China Unicom Partners with Industrial Bank for Mobile Banking II-67
Metavante Signs Agreement with Monitise II-67
Open Solutions Partners with MShift to Deliver Mobile Banking
Solutions II-67
Western Union Collaborates with GSMA for Mobile Banking
Solutions II-67

8. FOCUS ON SELECT PLAYERS II-68
I. Banks Offering Mobile Banking Services II-68
Bank of America Corp (US) II-68
Barclays Bank Plc (UK) II-68
BB & T Corp. (US) II-68
Citibank N.A (US) II-69
JPMorgan Chase & Co. (US) II-69
Lloyds TSB Bank Plc (UK) II-69
The PNC Financial Services Group, Inc. (US) II-70
Wells Fargo & Company (US) II-70
II. Companies Offering Mobile Banking Solutions II-70
ClairMail, Inc (US) II-70
Firethorn Holdings, LLC (US) II-71
Fronde Anywhere Ltd (New Zealand) II-71
Fundamo (Pty) Ltd (South Africa) II-71
Macalla Software Ltd (Ireland) II-71
mFoundry (US) II-72
MI-PAY Ltd (UK) II-72
Monitise plc (UK) II-72
Monitise Americas (US) II-73
MShift, Inc. (US) II-73
Sybase Inc. (US) II-73

9. GLOBAL MARKET PERSPECTIVE II-74
Table 3: World Recent Past, Current & Future Analysis for
Mobile Banking by Geographic Region - US, Canada, Europe,
Asia-Pacific, and Rest of World Markets Independently
Analyzed with Number of Users in Millions for Years 2006
through 2015 (includes corresponding Graph/Chart) II-74

Table 4: World 11-Year Perspective for Mobile Banking by
Geographic Region - Percentage Share Breakdown of Number of
Users for US, Canada, Europe, Asia-Pacific, and Rest of World
for 2006, 2009 & 2015 (includes corresponding Graph/Chart) II-75


III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Outlook III-1
Mobile Banking Market - An Overview III-1
Mobile Banking Market - At a Glance III-2
Growth Drivers and Market Restraints III-2
Factors Driving Growth in Mobile Banking Sector III-2
Factors Restraining Growth of Mobile Banking III-3
Mobile Banking - Trends to Watch Out III-3
Mobile Banking Proving Successful in Second Innings III-3
Recession Fuels Demand for Mobile Banking Services III-4
Gen Y - A Key Demographic Segment III-4
Text Messaging Services Gain Popularity III-4
SMS - Preferred Form of Mobile Banking III-4
Device Characteristics to Drive Mobile Phone Adoption III-5
Mobile Banking Draws Major Tech Enterprises III-5
Lack of Initiatives Hampers Growth of Mobile Banking III-5
Mobile Banking Delivery Channels - Potential Growth
Opportunities III-6
Comparative Analysis of Various Mobile Banking Delivery
Channels III-6
Short Messaging Service (SMS) Banking III-6
Mobile Web III-6
Mobile Client Applications III-6
SMS with Mobile Web (SMS with WAP Push) III-7
Secure SMS III-7
Competitive Landscape III-7
Table 5: Leading Players in the US Mobile Banking Market
(2008): Percentage Share Breakdown of Number of Customers
for Bank of America, JPMorgan Chase & Co., Wells Fargo &
Co., Citigroup Inc., BB&T Corp., PNC Financial Services,
and Others (includes corresponding Graph/Chart) III-7
Product/Service Launches III-8
Strategic Corporate Developments III-17
Key Players III-25
Bank of America Corp III-25
BB & T Corp. III-25
Citibank N.A III-25
JPMorgan Chase & Co. III-26
ClairMail, Inc III-26
Firethorn Holdings, LLC III-26
mFoundry III-27
Monitise Americas III-27
MShift, Inc. III-27
Sybase Inc. III-28
The PNC Financial Services Group, Inc. III-28
Wells Fargo & Company III-28
B.Market Analytics III-29
Table 6: US Recent Past, Current & Future Analysis for
Mobile Banking Analyzed with Number of Users in Millions for
Years 2006 through 2015 (includes corresponding Graph/Chart) III-29

2. CANADA III-30
A.Market Analysis III-30
Outlook III-30
Smartphones to Boost Mobile Banking III-30
Barriers to Mobile Banking III-30
Future Trends in Mobile Banking III-30
Product/Service Launches III-31
Strategic Corporate Developments III-31
B.Market Analytics III-32
Table 7: Canadian Recent Past, Current & Future Analysis for
Mobile Banking Analyzed with Number of Users in Millions for
Years 2006 through 2015 (includes corresponding Graph/Chart) III-32

3. EUROPE III-33
A.Market Analysis III-33
Outlook III-33
Mobile Financial Services in the EU III-33
Status of Mobile Banking Services in the EU III-33
Mobile Banking Set to Witness Rapid Growth III-34
Table 8: Penetration (%) of Internet Banking & Mobile
Banking in Select European Countries (2010) (includes
corresponding Graph/Chart) III-34
The United Kingdom III-35
Overview III-35
Mobile Banking to Move Beyond Text Alerts III-35
Advanced Technologies, Devices & Features to Boost Prospects III-35
Economic Downturn Propels Mobile Banking Usage III-35
Government to Promote Mobile Banking Solutions in
Developing Countries III-36
Product/Service Launches III-36
Strategic Corporate Developments III-39
Key Players III-41
Barclays Bank Plc (UK) III-41
Lloyds TSB Bank Plc (UK) III-42
Macalla Software Ltd (Ireland) III-42
MI-PAY Ltd (UK) III-42
Mobipay Spain, SA (Spain) III-42
Monitise plc (UK) III-43
B.Market Analytics III-43
Table 9: European Recent Past, Current & Future Analysis for
Mobile Banking Analyzed with Number of Users in Millions for
Years 2006 through 2015 (includes corresponding Graph/Chart) III-43

4. ASIA-PACIFIC III-44
A.Market Analysis III-44
Outlook III-44
Mobile Banking in Select Regional Markets III-44
China III-44
India III-44
Mobile Banking Set for Rapid Growth III-44
Banks Shift Focus to Rural Areas III-45
RBI Guidelines Boost Mobile Banking Sector III-45
Limited Success of Alternate Channels Boost Prospects III-46
Mobile Banking Fails to Enthuse Urban Mobile Users III-46
Challenges Facing Mobile Banking in India III-46
Pakistan III-47
South Korea III-47
The Philippines III-48
Product/Services Launches III-48
Strategic Corporate Developments III-54
Key Players III-56
Agricultural Bank of China (China) III-56
Fronde Anywhere Ltd (New Zealand) III-56
Industrial & Commercial Bank of China Limited (China) III-57
B.Market Analytics III-57
Table 10: Asia-Pacific Recent Past, Current & Future
Analysis for Mobile Banking Analyzed with Number of Users in
Millions for Years 2006 through 2015 (includes corresponding
Graph/Chart) III-57

5. REST OF WORLD III-58
A.Market Analysis III-58
Outlook III-58
Mobile Banking in Latin America - Overview III-58
Table 11: Penetration (%) of Bank Accounts and Adult Mobile
Phone Users in Latin America (includes corresponding
Graph/Chart) III-58
Mobile Banking - A Small Yet High Potential Market III-59
Colombia - Growing Popularity of Mobile Banking III-59
Mobile Phone Banking in Africa - An Insight III-59
Kenya III-60
Nigeria III-61
South Africa III-61
Product/Services Launches III-61
Strategic Corporate Developments III-65
Key Players III-68
Fundamo (Pty) Ltd (South Africa) III-68
B.Market Analytics III-68
Table 12: Rest of World Recent Past, Current & Future
Analysis for Mobile Banking Analyzed with Number of Users in
Millions for Years 2006 through 2015 (includes corresponding
Graph/Chart) III-68


IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 84 (including Divisions/Subsidiaries - 85)

------------------------------------------
Region/Country Players
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The United States 10
Canada 2
Japan 3
Europe 8
Germany 1
The United Kingdom 5
Rest of Europe 2
Asia-Pacific (Excluding Japan) 52
Latin America 1
Africa 3
Middle-East 6
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