Mobile Banking Will Displace Online Banking For Routine Interactions

2010 has shown us that mobile banking's time has finally come. Thanks to growing smartphone adoption, fast all-you-can-eat data plans, and more compelling mobile content, more people will start using mobile banking in the coming years.

Although this won’t happen overnight, the unique benefits of mobile banking, like simplicity, immediacy, and context, mean that it will eventually displace online banking for frequently used day-to-day banking tasks like checking account balances, viewing transaction histories, making transfers, and paying bills. By contrast, online banking will remain a more important sales channel.

If you are a Forrester client and want to read more about this topic, I encourage you to read my recent Forrester report.

Alexander