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Page history last edited by PBworks 16 years, 11 months ago

Mobile Banking discussion



  • John Muchow - MFoundry
  • Robby Wright -
  • Brad Garland - The Garland Group
  • Jason Knight - Wesabe
  • Jim Bruene - Online Financial Innovations
  • Shari Storm - Verity CU
  • Vibhu
  • Weston Heil - Metafos
  • Brent Dixon - Trabian
  • Bob Vandehey - Online Resources
  • Mark McSpadden - The Garland Group


Discussion points:

  • In the US, phone providers are obstacles to mobile applications
  • India's phone functionality is far more advanced
  • Other countries, like Japan, have a society that is more public transportation based. Mobile applications are more important in this type of environment when people are in tight quarters and not driving. In US, people are typically driving in cars and we have ATM's and Internet access every few blocks.
  • There was a discussion about community lending sites like BillMonk.com, LendingClub.com and Prosper.com.
  • There was a discussion about Chase Plus I/Facebook partnership.
  • What about a simple mobile app that just has a green/red indicator to quickly see online balances with configurable thresholds?
  • Is mobile really needed or would a fully functional IVR system that understood natural spoken language such as Google 411 be accepted better by US market?
  • Is mobile banking just filling a gap due to hard to use IVR systems and longer wait times in call centers?
  • Is mobile banking just a short term solution until all mobile devices have fully functional browsers?
  • When Internet Banking, Bill Pay and other solutions were at the beginning of their adoption curve, the user was charged.Some mobile initiatives can cost the FI to lose money. For example, if a user can check their balances realtime, NSF fees would drop. A better solution would be to notice the low balance and cross sell a bridge loan versus having them get a payday loan.
  • More interfaces such as RSS feeds for balances would be great.



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