Get the headline news: mobile banking is not simply a new channel, it is a game changer – and without it, many institutions can expect to perish.
"Mobile puts the bank terminal with the user. We have never before had that kind of computing power," said Wade Arnold, CEO of Banno (formerly T8 Webware).
David Albertazzi, an analyst with the Aite Group, pointedly added: "Mobile banking is not online banking lite. It is a unique channel with its own features. That is prompting some financial institutions to go beyond first generation mobile banking into the next wave of features."
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