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

Some Observations From Finovate Europe

For the past few years I have watched enviously as the Finovate online financial technology show has gone from strength to strength in San Francisco and New York. So I was thrilled to hear that Finovate was coming to Europe and today I was lucky enough to go along to the show in London.

For those of you who aren’t familiar with Finovate, it’s a fast-paced format with seven-minute live demos and pitches from 35 financial technology vendors. It’s produced by Online Financial Innovations, the people behind the excellent NetBanker blog.

The big themes were:

                Money management: Figlo; IND Group;  Linxo; Lodo Software; LoveMoney.com; Meniga; Strands Personal Finance; Yodlee.

                Security: Business Forensics; miicard; SilverTail Systems; SolidPass; Voice Commerce.

Read more