Responding to consumers' growing interest in banking from their mobile devices, retail banks plan to invest more money to enhance their mobile offerings, according to a survey of Consumer Bankers Association members conducted by Forrester Research Inc.

CBA members reported they will spend one-third of their total digital budget on the mobile channel this year. The joint research project surveyed digital executives at 19 leading U.S. and Canadian banks. The findings are summarized in a two-part report, "The State Of North American Retail Banking eBusiness 2012."

According to Forrester's Consumer Technographics data, 17% of U.S. online adults are active mobile bankers, and new mobile features are gaining popularity, with 22% of U.S. online adults interested in mobile payments.

The Forrester/CBA survey showed that banks' mobile spending will focus on three key functions: alerts, remote deposits, and person-to-person payments. While these executives believe digital wallet initiatives show great strategic promise and are therefore watching them closely, most are taking a wait-and-see approach with their 2012 investments.

"Payments are by far one of the biggest opportunities in the space for both online and mobile as the growth of person-to-person and mobile wallets continues," says Brad Strothkamp, Forrester Research vice president and principal analyst serving eBusiness & Channel Strategy Professionals. "As these initiatives move forward, digital teams will need to drive innovation not only internally but also in the vendor space, especially in areas like digital wallets and revenue-generating payment products."

http://www.forrester.com/Forrester+CBA+Survey+Retail+Banks+Increasing+Mobile+Investment/-/E-PRE3704



[This article was posted on July 2, 2012, on the website of ABA Banking Journal, www.ababj.com.]         

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