Mobile Banking Innovation In Europe

Benjamin Ensor

Aurélie L'HostisThis is a guest post from Aurélie L’Hostis, a researcher serving eBusiness & Channel Strategy professionals.

In a world that’s constantly on the move, more and more Europeans appreciate that the phone in their pocket can do more than just cruise the Internet, check the weather forecast, and shoot disgruntled birds into space. For mobile banking now offers a secure and convenient way for customers to do their banking ... all in the palm of their hand.

As mobile banking adoption maintains its steady growth in Europe, customer expectations for functionality within mobile banking apps continue to increase. Customers now want quick access to their accounts 24/7, the ability to perform a range of transactions with only a few clicks, and a way to manage their money directly on their smartphone. Over the past year, European banks have focused on trying to keep up with the demands of these increasingly sophisticated mobile banking users. The result has been a plethora of improved functionalities and exciting innovations in European mobile banking. We used our Mobile Banking Functionality Benchmark methodology to evaluate the retail mobile banking offerings of eleven European retail banks from France, Germany, Italy, the Netherlands, Spain, Poland, and Turkey. Here are some of the highlights:

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Why You Should Turn To Poland For Digital Financial Services Inspiration

Oliwia Berdak

“How come America put a man on the moon 45 years ago but still has not produced decent online banking?” asked recently on Twitter Michał Panowicz, mBank’s Managing Director for Products, Digital Channels and Marketing and one of the speakers at last week’s Net Finance Conference. As provocative as the question is, Panowicz is in a strong position to ask it. After some big investments in the bank’s online and mobile offering, the bank has just announced record profits for the first quarter of 2014. Digital innovation is obviously paying off. But once you’re on that road, there’s no turning back. You can’t "undisrupt" yourself.

As my colleague Benjamin Ensor wrote some time ago, innovation often happens in clusters.This means that innovation by one company causes its competitors to not only match it but also to try to leapfrog it — resulting in rapid cycles of innovation. This is what is happening in Poland right now. During my trip there last week, a few bank executives told me of the increasing internal and external pressure not to fall behind digital innovation. There a couple of other reasons why Poland is a great testing ground for new financial services ideas; it has:

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