Seven years ago we published our first full report on mobile banking. At that point, you could see that it would be widely used to access current balances and transactions. However, the broader services powered by the camera (remote deposit); GPS (location-aware alerts); and the audio jack (Square) were practically unimaginable back then.
But now it doesn’t take much of an imagination to see that banking is best done on a smartphone. The screen size is perfect for managing the small amount of data needed to understand your current financial position. And the always-on, always-with-you device is ideal for handling issues that just can’t wait until you are home in front of your desktop computer.
So let’s no longer think of mobile as a support channel. It’s the other way around. Branches, call centers, and even online banking will support mobile banking, which is destined to be the dominant form of money management for the next 20 to 30 years.
Last month, we looked at a key missing ingredient in mobile banking, the new account application. This month, we look at the advanced capabilities banks must support to make the mobile UX superior to online.
About the report
Advanced Features for Mobile Banking (link)
A guide to the important smartphone features coming in 2015 and beyond
Authors: Julie Schicktanz, Research Analyst &
Jim Bruene, Editor & Founder, Online Banking Report
Published 9 June 2014
Length: 44 pages
Cost: No extra charge for OBR subscribers, USD $395 for others (here)
Companies mentioned: ABN AMRO (Netherlands), Amazon, Apple, Bank of America, BBCN Bank, Blippar, BNP Paribas (France), Chase Bank, Cluster, Emirates NBD Bank, First National Bank (South Africa), Fiserv, Fitbit, Google, Greater Texas Federal Credit Union, Halifax Bank (UK), Isis, Malauzai, Mitek, PayPal, Pixeliris (France), PrivatBank (Ukraine), Rabobank (US), Royal Bank of Canada, Samsung, Simple (BBVA), Square, Southern Bancorp, St. George Bank (Australia), Starbucks, USAA, Verity Credit Union, Wells Fargo, Westpac (New Zealand)