Mobile Banking is More Than “Just Another Channel”

by Banking.com Staff February 17, 2011   Insights

During a recent banking webinar with over 400 industry attendees, a poll of the attendees showed that 39 percent believe that mobile banking is simply another channel of delivery.  A presenter at the webinar, Christine Barry of research and consulting group Aite, was surprised that such a large amount of bankers did not see the potential in this new medium.

Mobile banking has developed into more than a flashy effort to one-up the competition. As an integral part of any banking system, mobile banking has the potential to both increase revenue and draw a new customer base. Barry notes in an Aite Group blog post, “those banks likely to see the greatest return from their corporate mobile offerings will be those adopting a strategic and well thought-out plan for deploying it.”

Barry articulates that the boon of mobile banking can only be fully realized when coupled with a well thought out strategy. Banks should be assessing the benefits and possible concerns of their customers, such as increased accuracy and mobile security. Financial institutions that develop mobile banking plans will not only see early adoption but continued use and adoption.

Do you share this perception of mobile banking? How are you trying to inform your consumers about mobile banking offerings?  Please let us know in the comments below.

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