mobile

The Status of Mobile Banking
In July 2002, UK’s online bank Egg stated that they were in the process of developing mobile applications. Chris Nelson of Egg’s technology concept development group indicated that “the future of banking lies with mobile devices closely integrated with Web services” (“m-banking is there…”). This signaled to many of the skeptics that mobile phone banking or ‘m-banking’ is indeed viable. Yet, very few other institutions are considering mobile devices as a practical delivery channel.
According to a survey carried out by the International technology group Bull last year, 75% of UK financial institutions have stated that their primary IT investment for the coming year will be spent on the development of their Web based services, with less than 30% of the respondents including mobile commerce as part of their foreseeable IT plans (“m-banking is there…”). The results in the survey have thus cast a doubt over the future of mo...