Mobile Banking is Top Priority for Community Banks

While just a little more than a quarter of community banks have joined the realm of mobile banking, the next 18 months could yield a significant number of new and expanded services offered by smaller banks.

While just a little more than a quarter of community banks have joined the realm of mobile banking, the next 18 months could yield a significant number of new and expanded services offered by smaller banks.

Citing survey results published by Banc Investment Group, Cellular-News reports that community banks see mobile banking as a top priority moving forward.

Eighty-nine percent of the community bankers polled in a nationwide survey said they are considering some form of enhancement to their existing platform. That includes 54% looking to design a mobile application for a smartphone, such as an iPhone, and 35% planning to add some type of functionality to their existing platform. At the same time, 9% of bankers said they were going to change their provider, and 4% were discontinuing the service altogether.

Banc Investment Group's data is the result of two web-based surveys conducted during the first quarter of 2010, according to Cellular-News. A total of 687 community bankers responded to the surveys. Fiserv, Jack Henry, FIS/Metavante and ClairMail combined to account for 86 percent of the mobile banking services used by community banks.

Anecdotally at least, I can say that in the short time since I joined Bank Systems & Technology's editorial team, mobile banking has been a constant topic of conversation among sources and via press releases. As the market's potential growth continues to be a hot topic, it'll be interesting to see whether community banks adopt a one-size-fits-all approach to mobile banking services, or whether they develop unique features as a means to compete for new business.