Mobile Banking Updates - May 6

Citi exec: Intersection of mobile and engagement happens on tablets
"A Citi executive at Mobile Commerce Daily’s Mcommerce Summit: State of Mobile Commerce 2012 conference yesterday said that tablets are driving a much deeper level of engagement with customers than smartphones. During the “Citi: Beyond Mobile Banking: The New Role of Tablets” session, the executive said tablet users have longer session lengths than smartphone users. The exec also reported that Citi has seen thousands of customers sign up for online banking for the first time via the financial institution’s iPad application."

‘Mobile banking key for customer loyalty’
"The prediction in the World Retail Banking Report 2012 warned that innovation in mobile banking was currently being hampered by security concerns. The report claimed that mobile banking could help promote customer loyalty. It said: 'The industry as a whole needs to establish a presence in mobile simply to ensure it doesn’t lose market share to non-bank entities seeking to take advantage of mobile’s ubiquity and convenience to offer banking services.'"

NACHA Speakers Say Mobile Is Redefining Banking Relationships: Onsite Coverage
"Call what is occurring now “the digital transformation of financial services,” said Geoff Knapp, a presenter at NACHA’s PAYMENTS 2012 conference and a vice president at Fiserv. His point: mobile is about much more than a new channel. In many, profound ways it is remaking the consumer’s relationship with his/her financial institution."

Mobile banking to rescue under-banked communities
"The notion that mobile banking looms as a life-altering technology service is usually discussed in the context of the developing world. But the idea is relevant as well when it comes to under-banked communities right here in the United States."

Monetizing Mobile Banking Services: Global Banks Compete, but how Will They Succeed?
"Over the next 5 to 10 years, expect mobile banking to become as routine as using ATMs. This is the key finding from the latest Global Banking: Foresight & Insights video series from Ernst & Young and Knowledge@Wharton. The series explores how banks around the world can succeed in the mobile banking space by reducing the cost of service delivery while generating new revenue streams and better connecting with customers. As banks deploy this technology, they will need to be open-minded and willing to learn marketing and security lessons from trailblazing developing markets."