Well...it's official! Pandora's box is wide open. Just yesterday I read an article where a bank in the UK is not only giving away mobile banking, but also giving customers a financial incentive to enroll. Specifically they are offering 10 pounds (or approximately $20 US) to the first 20,000 people that signup.
Now, please don't misunderstand, I'm a huge supporter of premiums, gifts, etc. for opening new checking accounts, but that's an easy one to justify financially. There is tremendous value in attracting new checking account clients. Mobile banking on the other hand is brand new. Shoot...at this point even the technology leaders are still trying to get the service developed and implemented.
I guess what I’m trying to say is that I was hoping we won't go down that path just yet, but "it is what it is." So, keep your eyes and ears open. If this catches on in the U.S. the price tag for offering mobile banking just got a little more salty.
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