The next evolution of mobile banking

Banktech.com has written an interesting article on 8 bank technology trends that will shape the future of the industry, but the one that most interests me th most is the section on mobile banking technology:-

Mobile banking started as a novelty, something only techies and first adopters felt comfortable using. But as smartphones have skyrocketed in popularity over the past few years, mobile banking adoption has increased along with it.

Initially, many banks' mobile offerings consisted of their online banking model ported to an iPhone or Android device. As mobile has grown into a maturing channel, however, banks and their vendor partners have produced richer mobile offerings that take advantage of its unique capabilities. And the rise of the tablet gives financial institutions another unique interface through which to interact with consumers (see No. 4).

"Mobile banking, when it first became a hot topic, was very much an offshoot of the online channel," says Jacob Jegher, senior analyst with Boston-based Celent. "Now mobile is maturing to the point where it is its own unique beast."

While banks are embracing the mobile channel -- and continuing to support the old standby of online banking -- they are not integrating the technologies used to build e-banking solutions, according to Jegher. But that will begin to change in 2012. "We'll see banks continue to develop solutions for these multiple channels but using a single set of technology to do so," he predicts. A cohesive set of technologies, Jegher adds, will make mobile app and online development easier for banks to manage.

What's good for the banks should be good for us too, managing multiple accounts should continue to get easier and easier as technology marches onwards.