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Bryan Yurcan
Bryan Yurcan
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Mobile Banking is Here to Stay

If there was one overarching theme that came out of Bank Systems & Technology's Virtual Event "How Mobile Is Transforming Banking's Competitive Landscape" on Thursday it's that mobile is indeed the future. While mobile banking adoption sits in the 10-15 percent or so range -- and even less for tablet banking -- the numbers are increasing every day, as technology continues to rapidly advance. It's not a stretch to say that within five years, most bank customers with access their account via a mob

1. The Future is Now

We are not that far away, maybe 2 or 3 years, from banks seeing more traffic hitting their mobile channel than online.

-- Huntington Bank's SVP Chief Digital Officer Jeff Dennes during a panel Thursday on Bank Systems & Technology's virtual event titled "How Mobile Is Transforming Banking's Competitive Landscape." Dennes said that those banks that are waiting for HTML 5 to come along and make their online channel mobile friendly are making a big mistake. They need to start positioning themselves in the mobile market immediately, he added, and that means building a mobile app.

2. True Customer Service

Literally, our number one priority was going to be to delight our customers.

-- Andres Wolberg-Stock, Citi's SVP/Director of Strategy for Mobile and Emerging Technologies, on the bank's strategy when designing its iPad app.

3. Why Leave Plastic?

You will quickly lose consumers if they don't have that great customer experience every time. It's neat and wow, but really to be successful you have to solve a new problem [with mobile products and services] … Because credit cards work really well.

Brian Pearce, head of Wells Fargo's Retail Mobile Channel. Pearce predicted that the next wave of mobile services will be about things you can only do with mobile devices, like point-of-sale transactions.

4. Maybe One Day

I'm fairly pessimistic that we'll see anything take off in the near future. Do I think it will eventually happen? Yes.

-- Richard Oglesby, senior analyst at Aite Group. Oglesby believes that merchants haven't been convinced yet they will get a return on their investment if they decide to develop an infrastructure for mobile point of sale transactions.

5. And They Smell Nice, Too

Tablet owners are young wealthy and use many bank products.

-- Javelin's Mary Monahan, speaking about the potential profitability of tablet banking customers.


Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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