Abstract
Overview
Mobile channel adoption will depend on more than just market timing. Financial
institutions must implement their programs based on 1) an understanding of
what factors distinguish the mobile channel from existing ones and 2) consumer
segmentation criteria that juxtapose consumer pre-ferences with attributes and
benefits of particular platforms. While US banks engaged in mobile banking
are focusing on making several capabilities available through one platform,
in-depth data indicates that consumer demands center on a select few
capabilities that can lead to in-creased interaction between customer and
institution. Quantitative data analysis coupled with interviews from top US
and international FIs and mobile technology vendors provide the basis for
segmentation and the resulting platform and feature strategies, as well as
address lessons to be learned from more mature mobile markets and the role
carriers play in this new channel.
Primary Questions
- What will drive consumers to the mobile channel for banking?
- Who are the early adopters and how can FIs appeal to them to capture
market share?
- Which consumer sub-segments will be the next likely adopters and how do
they want to use their mobile phones for banking?
- Which mobile banking solutions are available and what are the pros and
cons of each?
- Which solution(s) should financial institutions implement to appeal to
most consumers?
Audience:
- Financial institutions: Mobile channel, online channel, marketing,
multi-channel optimization departments;
- Technology vendors: Mobile banking; Mobile carriers
Companies/Organizations Mentioned in Report
- AT&T
- ClairMail
- Firethorn
- Fronde
- KiwiBank
- mFoundry
- MShift
View Cart
