by Kristin Moyer | January 6, 2011 | Comments Off
Stessa Cohen here. Mobile banking sounds simple, but it may still be confusing to bankers trying to sort out the hype from the opportunity. Is it like online banking but on a smaller screen? Is it a browser on a phone or a bunch of cryptic SMS codes that only unbanked consumers in India or Kenya will use?
It’s not confusing to consumers who enjoy extending self service to their mobile devices.
And, perhaps unlike other researchers, mobile, mobility & banking and the role they play in the lives of consumers are not confusing to Gartner Banking Industry analysts. As early as 2005 and 2006, I started writing about multichannel integration and the need for banks to adopt channel agnostic approach to retail delivery. In fact, the example I used in presentations was the ability to deliver banking transactions to an iPod.
From the start of our coverage of mobility and banking, my colleague Christophe Uzureau and I identified mobile financial services — the intersection of banking and payments on the mobile device. Our latest research, The Fundamentals for Success with Mobile Financial Services, reflects the evolution of our holistic thinking about the role of mobility in banking. Gartner has long written about synergies that appear in that intersection that may not have been possible in other “channels.”
As exciting as mobile banking is, customers have a life outside of banking. Alistair Newton’s note will help you design effective and personalized products your customers will want to use.
Of course, we have data to back this up. David Furlonger’s Gartner Innovation Survey: Culture and Executive Buy-In Essential to Successful Banking Innovations takes a hard look at innovation, changing organizations and measuring effectiveness.
So, I guess this post is a bit of a plug — Gartner analysts get mobile and how it fits — and will fit — into your bank’s business and technology architecture. Don’t let the hype confuse you.
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