Author: Michael Araneta

Business Strategy
July, 2012  -  Doc # FIN236185
Number of Pages: 25
Number of Figures: 2

This IDC Financial Insights report puts the limelight on the most noteworthy mobile financial services offerings of Asia/Pacific banks. Examining leading banks' propositions for mobile banking and mobile payments solutions, IDC Financial Insights uncovers several benchmarks and best practices that will be useful for staying ahead in the race for success in mobile banking.

Michael Araneta, associate director for IDC Financial Insights Asia/Pacific comments, "The region's leading banks have looked at the mobile phenomenon under a more strategic lens and have deployed their best resources and people to this 'channel of the future.' We see successes in launching standout features and functionalities, in ensuring growth in activity rates among customers, and in managing the technology requirements of the mobile channel."

Araneta continues, "It is easy to get carried away by the current everything-mobile hype. Banks however need to understand that some fundamental shifts are afoot — such as the changing notions of what is a channel, how the customer interacts with the bank in the future, and most importantly, how nonbanking entities might disintermediate banks by way of the mobile phenomenon."

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