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"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Wednesday, August 20, 2008

Japan's Influence on Mobile Banking in the U.S.?

In recent days, there have been numerous articles, references, and stories related to Japan and how they could influence the future of mobile banking and payments here in the U.S.

Specifically, here are a few of the ones that caught my attention:

Aug 8 - Many Inputs as Citi Thinks Mobile in the U.S. - American Banker
"In Japan, more people go on the Internet from mobile devices than from computers, Mr. Kietz said.

'The common wisdom is that what is happening in Japan today is going to be happening in the developed world two years from now,' he said. 'There are going to be more, cool phones available, and use of the mobile browser is going to increase substantially.'"

Aug 18 - Mitsubishi UFJ to buy California bank - International Herald Tribune
"Mitsubishi UFJ Financial Group, one of the largest banks in Japan, agreed Monday to buy the remaining part of UnionBanCal that it did not already own for about $3.5 billion.

The transaction values UnionBanCal, which owns Union Bank of California, one of the 25 largest banks in the United States, at about $10.1 billion.

Mitsubishi is trying to expand beyond its relatively stagnant home market as Japanese companies seek to broaden their presence overseas and take advantage of a weaker dollar."

Aug 19 - Japan's Mobile Tech Too Quirky To Succeed Overseas? - Washington Post
"For all of the cutting edge mobile technology that Japanese consumers have routine access to, surprisingly little of it has made its way outside of the country. Its government, however, wants to change this, and will begin an "aggressive push" to market the technology overseas, reports AP."

Personally, I agree with Mr. Kietz and I'm excited to see Mitsubishi acquire an institution in the U.S. Their resources, knowledge, and experience will lead to significant advancements in technology and could help expedite the development and adoption of NFC.

1 comment:

Brian Kirk said...

It's evident from past history that the United States in general is much slower than European & Asian countries when it comes to adopting mobile technologies. Ensuring a person's personal information is secure & educating the consumer on how things work are the key components of mobile technologies (specifically mobile banking) taking off her in the United States.