Fiserv, a leading global provider of financial services technology solutions, announced today the results of a survey of the mobile banking and payment plans of top-tier financial institutions. The in-depth survey, conducted by Forrester Consulting on behalf of Fiserv in September 2011, evaluated the plans of 10 banks and credit unions that in total hold more than one-third of all U.S. deposit accounts.
The results revealed that these financial institutions are moving beyond the basics to deliver increasingly sophisticated mobile capabilities. Transactional services such as remote deposit capture and mobile person-to-person payments will account for the bulk of mobile investment in 2012. However, despite a nearly unanimous commitment to expand overall mobile functionality, institutions remain split on plans to support mobile point-of-sale payments.
The Fiserv-commissioned survey indicates that financial institutions are moving to meet these more transactional needs by delivering more robust mobile banking and payment solutions.
Nine out of ten of the financial institutions surveyed already have a mobile banking offering that provides basic account access, and almost all provide ATM/branch locators, transfers between accounts and bill payment.
For 2012, financial institutions plan to focus on delivering remote deposit capture, actionable alerts, which allow recipients to initiate an action such as a funds transfer in response to an alert about a low balance, and additional payment capabilities. Eight of ten surveyed institutions plan to invest in some type of mobile payments in the next 12 months, with person-to-person mobile payments cited as a priority by seven respondents.
Financial institutions are committed to providing mobile banking and payments capabilities for a range of devices, with a focus on smartphones. While none of the surveyed institutions currently offered specialized support for tablets, this was cited as a priority for 2012 by multiple respondents.
These findings are consistent with Mercator Advisory Group research, which shows that mobility continues to be a hot topic for financial institutions, and will remain front-and-center in 2012. Customers are embracing mobile banking and mobility in general, not matter the type of device in use, and are particularly interested in mobile remote deposit capture and person-to-person transfers and payments, and new downloadable mobile apps.
Upcoming Mercator reports include analyses of mobile banking solutions from various perspectives, including that of customers, FIs, and vendors.
Read full article: http://www.businesswire.com/news/hom…-Payments-2012