Abstract
This IDC Financial Insights report of 14 U.S. mobile banking
solution providers has provided some interesting insight into the current
mobile banking landscape. Despite a rather slow start, mobile banking
is poised for rapid growth, and banks should be preparing
themselves to support this channel. Current economic conditions have certainly
curtailed both consumers' demand for mobile banking and banks' willingness
to invest in it; however, things are still moving forward.
"Some
of the very same challenges facing online banking and bill
pay years ago are now presenting themselves to mobile banking,"
says Marc DeCastro, research manager, Consumer Banking and Credit/Community Banking,
IDC Financial Insights. "The difference today is that there are
multiple platforms to contend with, and banks are uncertain where
to invest. The best strategy is to offer something scalable
enough to meet ramped up usage and flexible enough to
address multiple existing and future platform requirements."
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