Banks are implementing latest innovations in their everyday banking technology solutions. Here we discuss 12 trends in mobile banking to watch in the year 2014.

1. 12 Mobile Banking
Trends to watch in 2014

2. 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

3. 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

4. Price and Infra Advantage
The infrastructure is there to
multiply mobile banking usage
Well-priced smart phones and
high-speed 4G in more
neighbourhoods

5. 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

6. 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

7. 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

8. 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

9. 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

10. ConventionalApps
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

11. AdvancedApps 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

12. 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

13. Geo - Mobile Banking
Usage
Turkey tops in internet
banking, with almost 50%
participation

14. Age - Mobile Banking
Usage
younger aged people tops in this
list

15. CompetitiveAdvantage
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
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