From a PaymentsSource.com article:
Recognizing that younger consumers are not as tied to their personal computers because of smartphones, Conestoga Bank of Chester Springs, Pa., is integrating mobile banking directly to its core system.
“Our target demographic is mobile-savvy; in many cases their phone is their PC,” says Lori Adamski, executive vice president and chief operating officer of the $621 million-asset bank.
The bank is deploying mFoundry’s mobile banking and payments suite to offer a range of mobile financial services that will expand in time. The new suite will include three offerings–a smartphone app, a mobile Web service and an SMS/text banking service covering most mobile devices.
Other features will include a mobile deposit product that enables smartphone users to capture an image of a check and deposit the funds into their accounts directly.
As more consumers use mobile devices as a primary point of contact, the need will grow to enable them to have a digital connection to their bank other than a PC-based Web connection, the bank contends.
“The ease of downloading an app through the (Apple Inc.) App Store, installing it and using it immediately is a plus for us,” Adamski says. “It’s another way we’re helping our customers stay connected on the go.”
As more financial institutions decide to offer mobile banking capabilities, some must decide whether to base their mobile banking systems on their online banking platforms, or to consider mobile systems that connect directly to core systems.
Choosing the latter may be an attractive option for financial institutions, particularly smaller institutions that have limited online banking capabilities but want to offer full-featured mobile banking options.
This direct-to-mobile approach also be less costly and offer faster implementation times for financial institutions and be a preferred way to attract younger and tech-savvy customers.
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