Published on February 21, 2014
Mobile Banking Trends 2014
Innovative Technology Game-changing magic of the technology paves way for real-time access and simplicity in banking interactions through Mobile Banking In developed economies, banks operate in highly competitive environments, increasingly challenged to differentiate through products and pricing
Innovative Technology Banks seek out innovative technologies to help them build a stronger relationship with their customers and increase customer loyalty, while controlling operational costs
Price and Infra Advantage The infrastructure is there to multiply mobile banking usage Well-priced smart phones and high-speed 4G in more neighbourhoods
Click with your Smart phone smartphone camera has been a key to mobile banking’s rapid adoption First iPhone, in 2007 shipped with 2 MP camera Recently shipped iPhone 5S has 8MP camera Picture Pay, where consumers can pay a bill by snapping a picture of it
Digital Wallet the Challenging Part Consumers, financial institutions, merchants, smart phone makers still others have to be brought on board in this game changing endeavour of phone replaces the plastic card
Smarter and more personalized Integral to wallet adoption will be inclusion of rewards and discounts as the phone becomes the delivery tool A digital wallet will be substantially smarter and more personalized than a plastic card in a leather wallet
A singular payment Application Mobile wallet allows consumers to store and manage their credit, debit, prepaid and gift cards on their smart phone using a singular payment application
A singular payment Application No need of carrying around a stack of physical plastic cards swipe phone or tap the screen, a payment can be easily made
Conventional Apps Most banks today have comprehensive suite of mobile apps that enable customers; to check account balances pay bills transfer money between accounts receive information about new products/services, fraudulent activities
Advanced Apps and Technology Biometrics fingerprints, eye scans, voice prints for user log in authentication Image Banking and Remote Deposit Capture(RDC) customers can scan their checks and the image is immediately transmitted to the bank
The economic factor for Banks key reason that top banks across the globe are investing in mobility is that finding the economics of operating many physical branch locations prohibitive
Geo - Mobile Banking Usage Turkey tops in internet banking, with almost 50% participation
Age - Mobile Banking Usage younger aged people tops in this list
Competitive Advantage Banks will continue to invest in technologies that give them a competitive advantage and enable them to reach the modern consumer We can help you CR2 Mobile Banking Solution Providers Brought you BankWorld Software Solutions
Thank You www.cr2.com Multi Channel Banking Solutions
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