Raining On The Mobile Banking Parade

Forrester's Catherine Graeber has published a report titled "Raining On The Mobile Banking Parade" in which she takes a skeptical view of mobile banking. Graeber says: "We hate to rain on this parade, but here's the reality: Today's consumers still aren't very interested in mobile banking. Before putting a mobile offering at the head of the development queue, eBusiness banking execs should sit patiently on the sidelines and wait to see if the early leaders succeed in growing adoption and delivering a solid ROI."

At Glenbrook, we're taking a somewhat different view. Seems to us that both SMS-based and, particularly, browser-based mobile banking are relatively quick, easy, and cheap for banks to implement, enabling early learning about the customer's mobile interests. We agree that a positive business case for bankers to spend any significant money on mobile banking remains elusive.

Brandon McGee comments on the Forrester report - interpreting more positively some of the data Forrester presents.