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It's not just me saying it, banks need mobile strategy now

2009 August 11

In the last week or so two studies have come out saying, among other things, that organizations:

  • a) Need a mobile strategy now
  • b) Lack key resources to develop a mobile strategy
  • c) Must be very careful

Today, IDC Financial Insights released a report saying that as the recovery continues, banks will face increasing pressure to offer mobile services. Furthermore, banks need to proceed very carefully andtake a more strategic look at mobile banking rather than view it as simply an extension of online banking and bill payment.”

Similarly, a UK survey found that in 86% of organizations, IT groups were in charge of developing a mobile strategy. However, nearly half said they lacked necessary skills to develop a successful mobile strategy.

This is why I’m in business. I have seen this first hand in hundreds of organizations. Even if a successful mobile strategy was as simple as picking a product (which it definitely isn’t), the ever changing combination of technologies and vendors makes it extremely difficult alone to come up with a plan that is reasonably likely to succeed.

I have seen what hundreds of organizations have done with mobile. Most bankers faced with making a decision are stuck with what vendors tell them and the dribbles of vague information on the Internet.

I’m here to help increase the odds of success and make your mobile strategy more than just a product selection. Every organization has a different culture, faces different competition, and has different integration and security needs. Bankers need a strategy that helps them differentiate, continue serving their customers according to their existing culture, and supports the continual search for revenue opportunities.

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  1. August 11, 2009

    Hi David,
    As you know I agree with you 100%! Banks (and everyone else) need a mobile strategy! Enough with the ad hoc decisions!

    Cheers,
    Jose
    @mstrat

  2. August 11, 2009

    Just picking a product isn’t a strategy.

    Ad hoc decisions can have very bad consequences, and most organizations don’t have access to key information in order to make an informed decision.

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