Best Practices: Mobile Banking Vendor Selection and Product Implementation

Best Practices: Mobile Banking Vendor Selection and Product Implementation

  • March 2015 •
  • 7 pages •
  • Report ID: 2835793 •
  • Format: PDF

This IDC Financial Insights report provides actual challenges and best practices provided by executives at banks and credit unions regarding their mobile banking implementation or vendor review process. Mobile banking is just the latest way that the customer experience is transforming to a more digital format. This digital interaction is following the consumer from the home and office and into the physical world of the branch.

Marc DeCastro, research director, Customer-Centric Bank Strategies, IDC Financial Insights states, "When it comes to mobile banking, there appears to be some different strategic directions taken by financial institutions, particularly as it relates to tying mobile to the online banking platform. Some institutions look at mobile as a different strategy that should be decoupled from the online banking platform, while others simply are looking at mobile to be an offshoot from their online platform. While there are values in each, the long-term approach needs to disconnect mobile from online and create a strategy that focuses on the customer's desires. That could be mobile first/only, tablet first/only, or even online first/only -- let the customer decide."