What Will 2012 Bring for the Banking Industry? I added an initial response to that question today on banking.com, Intuit’s community banking site focused on collecting insight into the financial services ecosystem.
Source for Payment Ecosystem Graphic Visit Payfirma.
While my quote (see the original post linked below) demonstrates that I feel mobile will finally hit its long-awaited stride in 2012, there is so much more opportunity for the average community institution to gain ground in 2012. Will there be unexpected challenges? No doubt. Technology alone is rapidly changing the competitive landscape in banking, and payment alone is starting to crumble down the barriers on what was once considered core banking services. But banks and credit unions offer much more than that.
What are we going to see in 2012? What are your plans?
What do you see as some of our biggest challenges and opportunities in 2012?
From the original post on banking.com:
“2012 will finally see the tipping point for mobile banking. Mobile moves beyond today’s limited functionality and starts to become the primary remote customer channel. Look for some interesting corporate bedfellows to emerge as the financial services ecosystem starts validating mobile payment business models and the importance of controlling new methods of money transfers and payments. We will see continued disruption in the space, as it relates to payments, security protocols, features like proximity rewards, integrated p2p and a2a with social tether, account opening, and more. Expect feature rich device agnostic applications that enhance usability and user experience across a range of mobile and tablet devices.” Bradley G. Leimer, Vice President, Online and Mobile Strategy at Mechanics Bank (@leimer)