This post is both a teaser and a distraction for those of you still waiting for a continuation of our series on Mobile Banking. Reuters ran a story yesterday which was picked up by quite a few news outlets in Canada (to my amazement). The story really reflects why we started our series here entitled -12 Reasons Why Canadian Banks Should Really Offer Mobile Services. It sounds like it should have been written 3 years ago…
The growing popularity of smartphones is expected to push up the use of mobile banking, allowing consumers to check balances, transfer money and pay bills.
In Canada, mobile banking is attracting small numbers of consumers who are essentially replicating their online banking habits.
Banks including RBC (TSX:RY) and Scotiabank (TSX:BNS) offer the service and both say smartphones are key to its adoption.
While the Bank of Montreal (TSX:BMO) says demand for mobile banking is still in its infancy and doesn’t offer it, it’s watching it with interest.
Can you believe that? Bank of Montreal is watching mobile banking with interest? Honestly please tell me that’s a typo? It doesn’t even mention TD. As I mentioned in the first of the twelve reasons:
The first bank in Canada who comes out with mobile banking (not just a simple mobile browser app) will gain the immediate attention of all these folks we just mentioned above. There is so little that differentiates our banks from each other that enabling and engaging with mobile consumers would be huge win to whichever bank does it first. They would carry the ‘innovator’ tag for quite a while after that.
It still holds true… anyone?
But not to worry, the series on Mobile Banking will continue right here on the Mobile Strategy Blog with two posts later this week. We have even recruited an expert in mobile commerce to guest post on the subject. Hopefully we will be able to contribute (even if just a little) to the awakening of some of our banks.
For now read the full Canadian Press article here.
Unbelievable.
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I had to close the browser and go do something else after reading it yesterday.
I probably should have done the same…