Mobile web degrades in areas with poor reception, like some mountainous rural area. A native app passes less data so the degradation isn’t there as much.
The chip card could give greater access and data if plugged into a smart phone to allow for more complex transactions.
For alerts, there’s push and pull. A pull system sends out batch updates that meet a criteria (like a balance falling below a specified threshold). Push incorporates into a core platform and knows when the criteria is met and pushes the alert out. This will give more instantaeous results, and be more customizeable.
Will all FIs produce a very similar solution, or will they find a way to differentiate via a mobile offering. Right now, it’s first to market, but soon we’ll all just have the same thing?
Is it suprising that FIs haven’t tried to differentiate based on their online banking offer, functionality, usability, etc…
People will notice their mobile phone is missing long before their wallet or credit card is missing. Makes sense to embed payments into it.
If via mobile banking people want to see their full financial picture quickly, it may push people to use FI aggregators like Mint or Wesabe. Mobile could create the tipping point for those third party solutions.
Could it be something like a branded tip calculator is better advocacy and relevance than actual mobile banking. The tip calculator app in the iPhone app store is the most popular financial app. Are we overthinking?
Mobile is an opportunity to reach customers wherever whenever. What’s the most relevant way to do it. Alerts are a simple FI interaction that helps the customer. It differentiates from online banking in a way only mobile can.
ATM locator is a more powerful mobile app than mobile banking.