Shuffling the Mobile Banking Vendor Deck: A Comparison of Mobile Retail Banking Solutions

by Bart Narter, October 29, 2010
Vendor Reviews
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Since 2007, the mobile banking market has changed significantly in terms of predominant technologies, features/functionality, and consumer adoption. Correspondingly, there has been a considerable shift in Celent’s evaluation of vendors in this market, as some have kept up with market developments (or even led them), whereas others have fallen behind.

In this report, Shuffling the Mobile Banking Vendor Deck: A Comparison of Mobile Retail Banking Solutions, Celent details how vendors’ rankings have changed, given that many have matured in the last three years and begun to gain their stride. Whereas many vendors originally focused on one modality (SMS/text vs. mobile web vs. app), they now offer all three. The report’s ABCD Vendor View presents a comparative view that visually represents at a glance the relative positions of each vendor in four dimensions: Advanced technology, Breadth of functionality, Customer base, and Depth of client services. XCelent Awards have been given to the top-performing vendors in each of the four categories.

As part of the evaluation process, Celent looked for the live availability of over 100 feature functionalities. Most vendors had a basic set of these functionalities live in-market. Vendors that were barely present in the mobile banking space three years ago now have the largest number of live FI clients.

"While vendor focus was once more on user interfaces, emphasis has shifted to back-end analytics," says Red Gillen, Senior Analyst with Celent’s Banking Group and author of the report. "With only a handful of financial institution implementations under their belts three years ago, many vendors now have experience with hundreds of FIs."

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

3

Introduction

6

Financial Institution Concerns, Solution Considerations, and trends

8

 

Solution Trends

8

 

Concerns

9

 

Solution Considerations

11

Vendor Taxonomy

14

Vendor Snapshots

19

 

FIS

19

 

ClairMail

20

 

Harland Financial Solutions

22

 

Intuit

24

 

Infosys

26

 

Jack Henry

28

 

M-Com

30

 

mFoundry

33

 

Monitise Americas

36

 

MShift

39

 

ORCC

41

 

Q2eBanking

43

 

S1

45

 

Sybase

46

 

Tyfone

48

Celent ABCD Analysis

51

 

Results: XCelent Technology and XCelent Functionality

52

 

Results: XCelent Customer Base and XCelent Depth of Service

57

Summary

62

Leveraging Celent’s Expertise

64

 

Analyst Access

64

 

Support for Banks

64

 

Support for Vendors

65

Related Celent Research

66

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