26 July 2017
visit www.finastra.com

Community banks ready for mobile push - survey

15 April 2010  |  8412 views  |  0 Iphone screen close up

Just a quarter of US community banks currently offer mobile services but this is set to increase sharply over the next 18 months, according to a survey from Banc Investment Group.

The poll of 687 community bankers shows 89% are considering some form of enhancement to their existing platform. That includes 54% looking to design a mobile application for a smartphone, such as an iPhone, and 35% planning to add some type of functionality to their existing platform.

Of those already offering a mobile banking service, 36% use a technology platform from Fiserv, 24% Jack Henry, 16% Fis/Metavante and 10% Clairmail. Most, 70%, are happy with their partner and would recommend them to another bank.

Asked about what new initiatives they are undertaking for the rest of 2010, 44% expressed interest in purchasing or upgrading their mobile banking platform - the most of any other product category.

After mobile banking, 22% said they were interested in purchasing or upgrading their online cash management or customer relationship management platforms. A fifth are planning to buy or upgrade enterprise risk management, loan origination or online banking capabilities.

Chris Nichols, CEO, Banc Investment Group, says: "Community bankers across the country view mobile banking as a must-have to meet both retail and commercial demand. Banks that already have a mobile platform have a temporary competitive advantage that will narrow as more banks offer the service. For mobile banking providers, the time is right to capitalise on a market that is moving from the early adopter phase to mass market penetration."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

M-banking finding favour with consumers

M-banking finding favour with consumers

24 March 2010  |  7665 views  |  0 comments
Citi m-payments trial surpasses expectations, but challenges remain

Citi m-payments trial surpasses expectations, but challenges remain

17 March 2010  |  11258 views  |  0 comments
Americans interested in mobile commerce - survey

Americans interested in mobile commerce - survey

02 December 2009  |  8313 views  |  0 comments
Americans prefer branches over Internet for bank communication - survey

Americans prefer branches over Internet for bank communication - survey

13 November 2009  |  6480 views  |  1 comments
Wells Fargo introduces customer-to-customer mobile money transfers

Wells Fargo introduces customer-to-customer mobile money transfers

24 September 2009  |  8281 views  |  0 comments
BofA to close 10% of branches as customers go online and mobile - WSJ

BofA to close 10% of branches as customers go online and mobile - WSJ

28 July 2009  |  8054 views  |  1 comments
Jump in mobile payments users this year - Gartner

Jump in mobile payments users this year - Gartner

28 May 2009  |  9215 views  |  0 comments
Americans switching on to m-banking

Americans switching on to m-banking

09 September 2008  |  7827 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comdownload the paper nowvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
10433 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
10017 views comments | 10 tweets | 6 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
9421 views comments | 28 tweets | 27 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
9416 views comments | 7 tweets | 21 linkedin
Wells Fargo Control Tower to map customer's digital footprintsWells Fargo Control Tower to map customer'...
8186 views comments | 7 tweets | 5 linkedin