Mobile Banking

Do you use your mobile for banking for personal or business purposes?

It is quite possible that you don’t, not many do.  But according to analysts, commercial mobile banking is nearing take off point and subsequent investment is required to avoid loosing customers.

Marc DeCastro, research manager for consumer banking and credit/community banking at IDC Financial Insights, said

"This is the time for banks to invest in their strategies for mobile banking or risk playing rapid catch up once usage does take off.

"Mobile banking for retail customers will become a staple, no different than online banking. Just like online banking, the justification for offering a mobile solution will be based on customer retention and cost reduction.”

DeCastro added: “The convergence of technologies into the mobile phone will continue to attract customers to the technology, and banks will need to offer a solution.”

While the most popular mobile banking function at the moment is checking balances, the report suggests that businesses and consumers now want the ability to shift money between accounts and access higher control functions from their mobile devices.

SOURCE: V3

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About Jon

Constantly challenging opinions and looking for new opportunities, Jon develops the product ranges and business activities and very much strives to maintaining growth and taking Clove in to the future.

Never knowing when to stop, he spends too much time in the office! He's very organised; writes lists, reports, spreadsheets, you name it, he's on to it!! When he does relax, however, he can be found driving his pride and joy (his Range Rover Sport), walking his Dog, down the pub or at a local restaurant. He does too like the finer things in life and often lives beyond his means, only the best hotels will do.