Key attributes that CIOs must consider when thinking about a new mobile banking solution

Steadily, one can observe that, in our ever-connected era, Mobile is increasingly the key channel for banks to interact with their customers.

A new IDC MarketScape study aims to provide end users with guidance on examining existing mobile banking solutions and/or planning for future investment opportunities.

IDC highlights several key attributes that CIOs must consider when thinking about a new mobile banking solution:

·         Should the institution run mobile banking as a standalone platform, or does it require a connection to online banking?

·         Does senior management look at mobile banking as a defensive position or strategic expansion?

·         What are the features that the customers are asking for? Are the vendors ahead of customer expectations?

·         How should SLAs be structured and pricing be established?

·         How successful has the vendor been in implementing its solution with banks running the same core platform?

·         How is the vendor investing its research dollars with regards to mobile banking?

·         How can the customer experience be improved beyond just the mobile banking product?

·         Should the institution still be looking at mobile banking as a three-pronged solution with SMS, browser-based, and downloaded application?

·         Should tablets have a separate application other than their smaller-screen mobile devices, or should there just be one app that can properly detect the device and provide an optimized experience?