Fran Duggan shares how banks can be the catalyst to exceed customer expectations in the payments world.
Mobile wallets can provide a big win for banks if they base their offerings on the key principles of utility, partnerships and the customer relationship.
For an enthusiastic but still-small segment of customers, mobile check deposit is a winning innovation.
As the mobile wallet train leaves the station, banks will discover that a ‘fast follower’ strategy risks leaving them behind.
BITS executive John Carlson says the financial services industry must collaborate closely with outside constituencies to mitigate fraud and security issues in mobile payments.
By proceeding cautiously in mobile banking, banks are following the same prudent course they pursued with remote deposit capture.
Mobile payments is coming fast, spurred by the development of downloadable apps such as Angry Birds – little bits of money that soon add up to big money.