3 Takeaways From the CEB TowerGroup Financial Services Technology Conference

Innovation, mobility and big data were among the big themes discussed during the three-day event in Boston.
May 03, 2013


3. Mobility

Mobile has firmly entrenched itself as a mainstream channel, but according to CEB TowerGroup research, it is still not the preferred channel among most consumers.

Jason Malo, a research director in the firm's Retail Banking and Cards practice, said during a presentation on mobility that mobile bankers use the channel for alerts, with occasional transactional capability. According to a recent CEB TowerGroup survey of mobile banking consumers, 54% said the most important mobile function to them was being able to receive notification from their bank about irregular account activity or changes to their account.

[The New Ecosystem for Mobile: Technology Alliances for M-Payments and M-Banking]

Compared to mobile banking, mobile payments "still have a ways to go" before reaching mass consumer adoption, Malo noted. He added that the U.S. "is a bit behind the curve" when it comes to mobile payments, as several different payments networks and vehicles are still competing for dominance in the still-nascent mobile payments market. Malo also said companies offering mobile payments services need to make a compelling argument to consumers to switch from their current payment methods.

Bank Systems & Technology encourages readers to engage in spirited, healthy debate, including taking us to task. However, Bank Systems & Technology moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Bank Systems & Technology further reserves the right to disable the profile of any commenter participating in said activities.

 
Disqus Tips To upload an avatar photo, first complete your Disqus profile. | Please read our commenting policy.
 

< Previous1 2 3 4 Next >