CBA members may spend one-third of digital budget on mobile payment this year

Telecom Lead America: Forrester Research said Consumer
Bankers Association (CBA) members reported they will spend one-third of their
total digital budget on the mobile channel this year.

The joint research project surveyed digital executives at
19 leading US and Canadian banks.

According to Forrester’s Consumer Technographics data, 17
percent of US online adults are active mobile bankers, and new mobile features
are gaining popularity with 22 percent of US online adults interested in mobile

Banks’ mobile spending will focus on three key functions:
alerts, remote deposits, and person-to-person payments. While these executives
believe digital wallet initiatives show great strategic promise and are
therefore watching them closely, most are taking a wait-and-see approach with
their 2012 investments.

Payments are by far one of the biggest opportunities in
the space for both online and mobile as the growth of person-to-person and
mobile wallets continues,” said Brad Strothkamp, Forrester Research vice
president and principal analyst serving eBusiness & Channel Strategy

As these initiatives move forward, digital teams will
need to drive innovation not only internally but also in the vendor space,
especially in areas like digital wallets and revenue-generating payment
products,” Strothkamp added.

CBA and our Emerging Channels Committee members are at
the forefront of mobile banking developments, as part of our ongoing commitment
to meeting the needs of our customers. These findings illustrate how vital the
mobile space has become and how innovation is driving the retail banking industry,”
said Richard Hunt, CBA president.

[email protected]


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