Where Has Mobile Banking Gone Mainstream?


How badly do consumers want mobile banking? It depends on which US city you’re talking about. This study takes a look at varying levels of interest in mobile banking for 12 major metro markets.

In 2009, 8% of shoppers on FindABetterBank indicated they “must have” mobile banking with their new checking account. By March 2014, that number grew to 30% — nearly quadruple. However, significant differences emerge when you break the data down at a local level. For example, research in March 2014 revealed that only 22% of shoppers from Detroit demand mobile banking compared to 39% of shoppers from Baltimore — almost twice as many.
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Top 5 Mobile Missed Opportunities that Cost Financial Institutions Money


In recent years, the proliferation of smart phones, tablets and web-enabled mobile devices has spurred nearly every financial institution to scramble and put together a mobile banking option for their consumers. It’s not just the growth of these technologies that is driving demand, it’s the users themselves.  Mobile users have been found to access their financial information 64 percent more frequently than non-mobile users.  As these consumers become increasingly more dependent on these devices, financial institutions are realizing that the first-generation mobile banking offerings are not sufficiently supporting the demand for anytime, anywhere banking needs, or giving financial institutions the ability to integrate all product and service offerings.  At what point did the existing mobile banking experience become obsolete?
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It’s Simple: Banks Need to Build Better Apps… Or Buy Them


Increased competition from challenger brands is disrupting the financial industry. Seamless digital banking has a long way to go. BBVA’s recent acquisition of Simple illustrates the importance of this movement and what it may take for banks to get there.
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Mobility in Banking: A Game Changer


Mobility is transforming every aspect of the financial services enterprise. Bank Systems & Technology and leading experts will discuss best practices and where the industry goes from here in our May executive forum.

It’s safe to say mobile is no longer an emerging channel. Almost every bank has a basic mobile offering, and many offer services such as mobile RDC and bill pay.
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Banks Falling Behind Pace of Innovation in Mobile Apps


Banks Falling Behind Pace of Innovation in Mobile Apps

A new survey by CSC and Finextra found that many banks struggle to quickly release new mobile apps, citing competition for internal IT resources.

The proliferation of new devices and operating systems makes the pace of change in mobile hard for many organizations to keep up with. But banks seem to be particularly apt to fall behind the pace of innovation in mobile, according to a new study released by CSC and Finextra.
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UX Lessons for Card Issuers from the New Starbucks Mobile App


When I moved to Seattle, Starbucks had just four locations. So I’ve had a ring-side seat in their climb to worldwide ubiquity. Though not a huge fan of their coffee, I greatly admire their business model, technology, and payments innovations.

I have been paying with the Starbucks mobile app for the past few months (note 1) as have 14% of its customers. It’s great as long as there is a queue. That gives you plenty of time to go through the 9-step mobile payments process (10 steps with tipping):
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Understanding Mobile Account Opening Options


For potential new customers, mobile account opening is an initial proving ground for a bank’s or credit union’s digital capabilities. Mobile account opening is also critical for deepening relationships with existing customers. So, what options are available as many institutions try to catch up with today’s mobile consumer?
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The Wearable Tech Explosion


According to Intel, the number of smart devices that talk to each other over Wi-Fi is expected to swell to 200 billion by 2020.

Even today you only have to look around any commuter train to understand the ubiquity of mobile devices – it seems absurd now that anybody ever questioned it. Almost as absurd as some of the new technologies mooted to connect people to online services: smart watches, glasses, cars, even toothbrushes – creating an internet of things.
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Mobile is Now Mainstream and Increasingly Impacting Bank Switching


In another example of how U.S. consumers’ acceptance of mobile banking continues to grow, a recent AlixPartners study shows that 60 percent of smartphone or tablet owners who switched primary banks reported mobile banking capabilities as “important” or “extremely important” in their decision to switch. That’s up dramatically from 48 percent in a similar survey from the first half of 2013.
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