Tag: Online Banking

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Ten-Year Online & Mobile Banking Forecast and 2009 | Online Banking Report

Colin Henderson

Online Banker Report has just issued its latest and the topic is future based look at the next 10 years for online banking and mobile banking. Every year Jim and the team put together a review piece for the space the past year, and with predictions on usage patters for the next ten years. It is a must read for online banking professional in my view. New Online Banking Report Available: Ten-Year Online & Mobile Banking Forecast and 2009 The latest Online Banking Report: 2010 to 2019 Online & Mobile Banking Forecast is now available. The report includes our latest … Continue reading Ten-Year Online & Mobile Banking Forecast and 2009 | Online Banking Report

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Active and Passive Banking as a way to filter your online banking & mobile services

Colin Henderson

One challenge that banks continue to fail at is mobile banking. Jim here coins the phrase ‘active banking’ to describe the gap that can be filled with mobile banking. Some have tinkered with active banking but most focus on mobile being a mini online banking (‘passive banking’). In these days of deliberating on cost cutting while simultaneously improving service to assure customer retention, this piece is worth the read, to form basis for analysis of your own strategies for active and passive banking. The Impact of Always-On Mobile Banking | netbanker But most users will want to be in active … Continue reading Active and Passive Banking as a way to filter your online banking & mobile services

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Who will be the last bank without an iphone app?

Colin Henderson

Jim notes the new Mercedes app but he also asks the important question. When we consider the relatively small cost why would any bank not have an iphone app, even with rudimentary functions, such as balance and transfer, but through in bill payment and secure communication, and you cannot go wrong. The safari browser is as (more) secure than internet explorer which banks trust for majority of their web banking, so for the life of me I cannot see why this is not a priority. The positive press and customer comments from users translates into marketing gold and customer advocacy. … Continue reading Who will be the last bank without an iphone app?

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Survey shows shift in consumer preference away from visiting bank branches

Colin Henderson

This is a significant survey with online banking leading over branches for the first time in consumer preference. (ht netbanker) ABA SURVEY: CONSUMERS PREFER ONLINE BANKING Survey shows shift in consumer preference away from visiting bank branches WASHINGTON – A new survey by the American Bankers Association shows that for the first time, more bank customers (25 percent) prefer to do their banking online compared to any other method. …. “This marks a watershed change,” said Nessa Feddis, ABA senior counsel and retail banking expert. “It tells us that for the first time, more consumers prefer the speed and convenience … Continue reading Survey shows shift in consumer preference away from visiting bank branches

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BofA could eventually cut 10 pct of branches | SF Chronicle

Colin Henderson

This is a theme that is gathering steam. It is based on the reality that customers are using internet for their banking, and there is a high level of redundancy in offerring similar capabilities in physical locations. The counterbalance is of course the need to attract customers, new accounts and deposits which has traditionally been a branch activity. That balance is shifting now and the tension between those two opposing forces will be ineresting to watch, as banks exectute strategies and consider their cost base. BofA could eventually cut 10 pct of branches SF Chronicle Bank of America Corp. could … Continue reading BofA could eventually cut 10 pct of branches | SF Chronicle

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Are we finally seeing the demise of the bank branch

Colin Henderson

Finally we are seeing hints of what we all know is inevitable.  It has taken a long time and probably this latest economic crisis, but the long view on branches suggests a damatic shift with less of them. Slow but inexorable move to online banking Yet slowly but surely, the internet is starting to make its mark on the sector as more people move their banking online. Lloyds is to shut up to 400 branches as part of its integration of HBOS. Its rivals are likely to follow suit. A decade from now, the local branch could well be an … Continue reading Are we finally seeing the demise of the bank branch