By: Mike Horrocks
Note: As we wrap our 3-part blog coverage of the American Banker webinar, “What’s next for mobile banking?”, we focus on the comments from Cherian Abraham and a great question on wearable devices.
It is amazing to me as you look at the world, science, families, etc., how often there are polar opposites that just never seem to come together. Cats and dogs and little brothers and sisters are just a few that I see on a daily basis it seems like. But I have hope for unity at last and that comes from mobile banking. Let me explain…
Thanks to mobile devices, banks are in a golden era where they can have access 24/7 to their clients and prospects. Sitting on a couch, watching the latest hit show, a consumer can now have a banking experience – couch potatoes that need banking rejoice! And by partnering with the right team you can ensure that in every transaction:
- The offer is relevant and that the onboarding is frictionless, while maintain the risk appetite of the bank.
- The consumer and the device are authenticated and that all KYC issues are addressed.
- That the relationship and the value proposition of the bank are tied together meaningfully to help influence the future of additional transactions.
Also thanks to mobile, wearable and fitness devices have a place in this process as well. While really appealing to the tech leader, we do need pause to find the use 
case – with payments often coming to the top. So how long will it be until we are at the point that while out jogging you can also pick up your morning coffee with a bump and pay from the fitness device? So while we are still looking for the use case to make sure value is right, I can see where the fitness device wearer gets their banking needs fulfilled as well in the near future.
So back to my first point: of hope for unity and cats living with dogs. Thanks to mobile we have an ecosystem that allows us to have the person on the couch and the person on the run all being serviced – unity via mobile banking.
