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December 29, 2008
Operations & Technology
Based on our data, different member segments are interested in different levels of functionality and have varying levels of experience with related technologies. Everyone is not using a mobile internet browser, even if they have that capability on their phone. But some members want the ability to conduct transactions beyond just text alerts with balance or activity information. Some financial institutions are planning both types of mobile access to reach the needs of a broader group of members. Credit unions should consider the needs of their own membership, and those they want to attract.
Is it really a comparison between User Interfaces or does each interface have a role in a mobile payments and banking solution? i.e. SMS for alerts, WAP for interactive confirmations etc.
Comment 3 is very true. SMS is still relevant/convenient for alerts, etc.
However, the ease of use of the interface will go a long way toward driving permanent adoption versus just trying it out a couple times OR only used when very important. If it isn''t simple and fast I''m not sure how much traction mobile home banking will have for the masses. I have an iPhone and sometimes use WAP mobile banking with my CU...still, I''m typically near a PC most of the time and I often feel it is just ''easier'' to wait for the easier PC interface. I''d think differently if the interface on my mobile phone was easier and faster. That might be a compelling argument for the application-based approach which (after initial install) is significantly faster than WAP and allows full design/interface flexibility.
The point to consider is: a consumer will want to use their mobile phone to conduct banking and make payments. They likely won''t choose by user interface. Consider that it''s possible to register for the service using WAP, receive alerts via SMS and action payments and access banking services using a downloadable application.
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