A new report from Mercator Advisory Group titled Mobile Banking as a Hub: Redefining Service Delivery provides an analysis of the growing influence of mobile banking, not just as a leading customer platform, but as a dominant factor in service design, user experience, and organizational priorities.
Among customers, mobile banking is rapidly overtaking face-to-face interaction in a bank branch as a preferred means of doing business. From the customers’ viewpoint, mobile banking is already a hub, defining the functionality and look/feel of competitive financial services. And with this growing influence, mobile banking is increasingly playing other hub roles at FIs: as a lead design channel, as a lead customer experience channel, as a defining IT approach, as a driver of organizational structure/leadership, and as an innovation hub.
“Due to its fast-growing importance and high implementation priority, mobile banking is a politically/organizationally important function. Mobile banking is increasingly influential in how banking products and services are defined and delivered. As our report title suggests, mobile banking’s place as a hub of service redefinition simplifies some issues for FIs by providing a strategic focus and priority, but within the context of very complex IT, compliance, organizational, and competitive environments,” commented the author of the report, Ken Paterson, VP, Special Projects, and Director of Mercator Advisory Group's Customer Interaction Advisory Service.
This report is 21 pages long and has 9 exhibits.
Companies mentioned include: ACI, Bank of America, D3 Banking Technology, FIS, Fiserv, Wells Fargo.