Mobile Banking Vendors: Tackling the Technology-Distribution Tradeoff

October 2, 2007

Abstract

San Francisco, CA, USA October 2, 2007

Celent looks at competing mobile banking technologies and their vendors.

2007 will be known as the year that mobile banking gained traction in the US. Six of the top ten US banks, as well as numerous smaller banks and credit unions, now offer some form of mobile banking to their customers.

In a new report, , Celent examines the three major mobile banking technologies (client applications, mobile browsers, and SMS/text messaging) and the vendors vying for leadership in this nascent channel.

"Client applications have more sizzle, and SMS/text messaging has an important role to play, but due to its ubiquity and data richness, mobile browser technology is best-suited for the early stage of the mobile banking market," said Red Gillen, senior analyst at Celent and author of the report. "Of the vendors that offer mobile browser solutions today, MShift has the right combination of extensive bank experience and short implementation times, making it one of the most attractive players in the space."

The relative strengths of industry players are bound to change, Celent predicts, because large entrants, full-featured Internet browsers on mobile devices, and the push toward mobile proximity payments will significantly impact the mobile banking market.

Eight vendors are profiled in the report: ClairMail, Firethorn, Fronde, M-Com, mFoundry, Monitise, MShift, and Yodlee.

This report is 53 pages long and includes 12 figures and 17 tables. A table of contents is available online. Members of Celent's Retail Banking research service can download the report electronically by clicking on the icon to the left.  Non-members should contact info@celent.com for more information.  

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 subsidiary 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

San Francisco, CA, USA October 2, 2007

 

Executive Summary 03
Introduction 05
Mobile Banking Functionality 07
Mobile Banking Service Taxonomy 09
The History and Future of Mobile Banking Services 15
Celent's ABCD Vendor Analysis 23
Vendor Spotlights 31
ClairMail 31
Firethorn 33
Fronde 36
M-Com 38
mFoundry 40
Monitise 43
MShift 45
Yodlee 47
Future Trends 50

 

Sign in to download reports and access personalized information