Explosion of changes in Mobile and SMS Banking
Service removals and extensions all evident as providers scramble for market advantage
24 February 2010 | Mobile & SMS
The February update of Mapa’s Mobile Banking and SMS Competitor Intelligence dashboards recorded several notable changes in the countries monitored.
Europe is catching up with the US banks following the introductions of iPhone applications from many major banks. In the American market, BB&T’s introduction of their iPhone application makes our dashboard complete in respect of American banks offering this product.
NatWest and RBS introduced a Mobile Banking iPhone application which is by contrast a first for banks in the UK. The service contains the same features as their original Mobile Banking application – both developed by service provider Monilink. NatWest / RBS have also extended their range of SMS services. Customers registered for the Mobile Banking service can now request a mini statement by texting ‘MINI’ to a specified number.
In Sweden, the iPhone revolution had started off with the application released by Swedbank in December last year. The service provided is the same as the mobile web within the secure area, some changes can be seen on the application landing page.
Mapa researchers have also found that Barclays had removed their SMS Banking service and announced that a new improved service will be introduced shortly. The new service will be managed within Online Banking, in contrast to the old service that was managed via telephone. Barclays also updated their mobile web service which is now fully optimised for use on mobile devices. They also became the first British bank to offer external payments within Mobile Banking. These payments can only be made to existing payees added within Online Banking.
Following the re-branding of Alliance & Leicester, the mobile service provided via Monilink will be stopped. The Spanish owner and counterpart Santander has also removed their mBanking service in Spain with the announcement that a new service will be introduced shortly.
Barcelona based La Caixa has taken mobile payments to the next level. The introduction of their ‘Transfi’ feature, where customers have the option to make transfers to other La Caixa customers, using only a mobile number and name of recipient marks a further step in customer convenience. This option is added to existing Mobile Banking applications and can also be downloaded as a separate application.
An interesting approach was introduced by Wells Fargo that has made Text Banking available for all its customers. Previously, customers had to be registered for Online Banking in order to get access to SMS Banking. Non Online Banking customers can sign up by accessing wf.com/text on their mobile devices.
The actors in the Dutch market seem to be pursuing polar opposite actions. Rabobank is leading the change with the introduction of their iPhone application that includes new payment services. Their public mobile web site has been updated and refreshed, but after login the service remains unchanged. ABN AMRO by contrast has removed its public mobile web site, the Mobile Banking service itself was removed in August 2008.