Mobile Banking Vendors: Tackling the Technology-Distribution Tradeoff
Celent looks at competing mobile banking technologies and their vendors.
2007 will be known as the year that mobile banking gained traction in the US. Six of the top ten US banks, as well as numerous smaller banks and credit unions, now offer some form of mobile banking to their customers.
In a new report, , Celent examines the three major mobile banking technologies (client applications, mobile browsers, and SMS/text messaging) and the vendors vying for leadership in this nascent channel.
"Client applications have more sizzle, and SMS/text messaging has an important role to play, but due to its ubiquity and data richness, mobile browser technology is best-suited for the early stage of the mobile banking market," said Red Gillen, senior analyst at Celent and author of the report. "Of the vendors that offer mobile browser solutions today, MShift has the right combination of extensive bank experience and short implementation times, making it one of the most attractive players in the space."
The relative strengths of industry players are bound to change, Celent predicts, because large entrants, full-featured Internet browsers on mobile devices, and the push toward mobile proximity payments will significantly impact the mobile banking market.
Eight vendors are profiled in the report: ClairMail, Firethorn, Fronde, M-Com, mFoundry, Monitise, MShift, and Yodlee.
This report is 53 pages long and includes 12 figures and 17 tables. A table of contents is available online. Members of Celent's Retail Banking research service can download the report electronically by clicking on the icon to the left. Non-members should contact firstname.lastname@example.org for more information.