March 18, 2011

When it comes to mobile banking, a bank can deploy a relatively simple downloadable app and satisfy customer needs at the same time. Which is probably why two of the top three functions banks are asking California-based mobile banking and payment provider mFoundry are as fundamental as the ability to check account balances and move money.

So what three mobile app features are hottest among banks right now? According to Drew Sievers, CEO and cofounder of mFoundry they are:

  • Account management
  • Mobile remote deposit capture
  • Account transfers or bill pay
  • It makes sense. Until someone figures out how to dispense cash from a mobile phone, those three things will take care of the big stuff. In the meantime, using geolocation baked into a smartphone app to find the nearest branch or cash machine remains a viable option.

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