Market Analysis: Retail Mobile Banking Vendor Survey Results - Mobile Banking Will Have Its Day, Just Not Today

IDC
July 30, 2009
24 Pages - SKU: IDC2402718
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Countries covered: United States

This IDC Financial Insights report of 14 U.S. mobile banking solution providers has provided some interesting insight into the current mobile banking landscape. Despite a rather slow start, mobile banking is poised for rapid growth, and banks should be preparing themselves to support this channel. Current economic conditions have certainly curtailed both consumers' demand for mobile banking and banks' willingness to invest in it; however, things are still moving forward.

"Some of the very same challenges facing online banking and bill pay years ago are now presenting themselves to mobile banking," says Marc DeCastro, research manager, Consumer Banking and Credit/Community Banking, IDC Financial Insights. "The difference today is that there are multiple platforms to contend with, and banks are uncertain where to invest. The best strategy is to offer something scalable enough to meet ramped up usage and flexible enough to address multiple existing and future platform requirements."


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