Banks compete vigorously to differentiate themselves in order to gain greater market share and enlarge their deposit base. That's why mobile has becomes so important. It's the next battleground for consumers, and banks are rolling out the latest and greatest smartphone apps and mobile site features to gain an edge on the competition.
The banks that establish a reputation for mobile innovation now may benefit in the future from greater market share and more engaged — and high-margin — customers.
In a recent report from BI Intelligence, we take a look at some banking app pioneers and cutting-edge features, detail the competition to develop the best mobile banking tools, examine mobile banking's growth spurt, and analyze consumer adoption behavior and barriers
These are examples of the more advanced mobile banking features:
- Integration of capabilities such as all-in-one investment management.
- A payments hub that includes mobile payments and peer-to-peer payments.
- Real-time financial planning and notifications.
- Personalized, data-driven customer service and financial advice.
- Tablet-friendly banking apps and sites with richer feature sets. Chart and data-heavy research on stocks, bonds and mutual funds naturally lends itself to tablets' larger screen.
- Remote bill payment, or paying bills with a few clicks by taking a photo of them with a mobile app.
- Looks at the competition to develop the best mobile banking tools
- Examines mobile banking's growth spurt
- Analyzes consumer adoption behavior and barriers thus far
- Explains how banks are scrambling to differentiate their services and takes a look at some banking app pioneers and cutting-edge features
- Details how mobile banking could be bottom-up and encompass the 'unbanked,' expanding bank and credit access worldwide
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