Mobile Banking Vendor Solutions

by Stephen Greer,  Daniel Latimore, April 8, 2013
Vendor Reviews
Global, North America

Abstract

Many of the banks engaging in mobile are looking beyond the basic offerings that spearheaded their digital strategy. Applications are faster, host a wide array of functionality that more appropriately serves the use cases of the customers, and are much more interactive and dynamic, becoming two-way communication applications. Now banks must heavily promote mobile adoption.

In Mobile Banking Vendor Solutions, Celent provides an in-depth look at mobile vendor solutions for banks in North America and around the globe. The report is in two parts: an overview of all the summaries, conclusions, trends, and ABCD scores, and an attachment that includes detailed vendor profiles and features and functionality tables.

Although most of the top US banks have made the leap into mobile, more than a third have not.  It’s with that in mind that Celent has put together a compendium of vendor solutions, spread over two sections, to offer a complete view of the market.

“Most projections are bullish about the adoption of mobile banking over the next 5–10 years, often over 50%. But Celent doesn’t consider it to be a mainstream channel yet, at least in the minds of the users,” says Stephen Greer, Analyst with Celent’s Banking Group and coauthor of the report. “Customers are often misinformed about banking from a mobile device, citing security and reliability as two of the most common hindrances to adoption.”

Celent covers the following vendors in this report: ACI, FIS, Fiserv, Harland Financial Solutions, Infosys, Jack Henry, Jwaala, KONY, mFoundry, Monitise, NCR, ORCC, Oracle, Q2ebanking, SAP, SunGard, Temenos, and Wipro.

XCelent Awards were given to mFoundry (Functionality), Fiserv (Customer Base and Functionality), Intuit (Depth of Service), and Infosys (Depth of Service).

This overview is 16 pages long. The profiles, features, and functionality document is 110 pages long and includes 29 figures and 60 tables.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

The Mobile Vendor Market in April 2013

2

ABCD Analysis and XCelent Awards

8

Conclusion

10

Leveraging Celent’s Expertise

11

Related Celent Research

12

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