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Tuesday, July 13, 2010

Mobile banking in the USA almost doubles in 12 months

Research company IDC Financial Insights has published a survey that shows mobile banking usage in the United States has almost doubled in the last 12 months. In fact, usage was up across all channels; branch, ATM, debit card, card centre, online and mobile. SMS text messages were the most popular form of mobile banking. However, the company points out that mobile banking is still not a mainstream channel and says it offers few revenue opportunities.

It's this issue of mobile banking introducing additional costs without providing opportunities for revenue that's the main challenge, according to IDC Financial Insights. It says the convenience of mobile banking doesn't currently appear to be something that people are willing to pay for, although enhancements to mobile platforms – including the addition of deposit and payment solutions – could provide more opportunities for financial institutions to add revenue opportunities.

Marc DeCastro, Consumer Banking and Credit Research Manager at IDC Financial Insights, said "Consumers are transaction and information happy, and the branch continues to be as popular as ever. The financial services industry recognizes the importance and advantage it has with its brick-and-mortar branch networks, evidenced by continued branch investment. Our survey, however, shows that consumers are getting more and more comfortable opening accounts outside of the branch. While many financial institutions have jumped into the mobile banking space and are offering solutions, some are still pondering their entrance. Those that have already installed a solution may also be looking at modifications or enhancements to their first-generation rollouts."

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Opinion Articles

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Today I've been using my mobile phone at home. For many people that’s not an unusual thing to do – but it is for me because, around here, coverage indoors isn’t particularly good. Downstairs it’s previously been non-existent. But this morning everything changed.

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Physician uses cell phones to bring health care to the poor

Natalia Ardanza of voanews.com writes:

In Africa there is another use for mobile phones. Public Health workers in Kenya are now using mobile phones to gather health information from patients in remote areas and upload it to the internet for instant analysis at distant centers. And it is all happening thanks to Dr Joel Selanikio.

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Making dumb touchscreen phones was a smart move

Mark Bridge writes:

I remember a report from last year that said ‘non-smart’ touchscreen handsets – generally those without a popular operating system – would be bad news for mobile operators.

Conventional touchscreen smartphones tended to result in higher-than-average ARPU thanks to their early-adopting tech-loving users, their web-friendly browsers, their email programs, their app-friendly operating systems and their fast 3G connectivity. However, dumber touchscreen devices – those with a manufacturer’s own proprietary OS and perhaps a clumsier browser – could generate 23% less ARPU than smarter phones. So, if touchscreen dumbphones weren’t good for networks… and weren’t really good for consumers either… manufacturers wouldn’t really bother with them. Right?

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"Hello Nexus One" I say...

James Rosewell writes:

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However I’m going to focus on voice dictation. Nexus One is the first phone I’ve used with this feature.

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The Amazon Kindle prepares to fight the Apple iPhone and Tablet

Mark Bridge writes:

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