Mobile and SMS Banking changes continue apace
Many Banks add new features
02 September 2010 | Mobile & SMS
The August update of Mapa’s Mobile Banking and SMS Competitor Intelligence Dashboards recorded a flood of notable changes in the countries monitored.
In the UK, the most active player Barclays have made several enhancements to their existing mobile web service. A new touch screen friendly interface has made the service more adapted to such devices. Barclays have also showed their creativity by being present within the popular ‘Augmented reality’ application Layar available on iPhone and Android.
A new SMS Banking Push service managed within Online Banking has also been introduced by the British high street bank. The service itself is similar to other banks’, interestingly since the release they have made changes to the price tariff. The initial flat monthly fee of £2 has been replaced with a ‘charges depending on alert’ price model. Another change in a similar vein has come from Lloyds TSB who have removed all the service charges for Mobile and SMS Banking. It looks like banks are struggling to turn SMS and Mobile Banking into a new source for revenue, at least if only looking at direct pricing.
In the US, which is perhaps the most developed SMS Banking market, Bank of America and Citi introduced new SMS Pull services. All American banks monitored on the Mobile Banking dashboard now offer SMS Banking including both Push and Pull services free of charge
Mapa researchers have also found that Spanish bank Santander introduced a mobile web service in Spain. Let’s see if their international siblings follow them. Remember that we noted in our February update, that Alliance & Leicester withdrew their mobile banking web service offered via monilink following the takeover by the Spanish giant. An announcement was made that a new mobile banking service would be introduced but so far, nothing has happened.
The Swedish banks have, after a slow start, caught up with the rest. From the last update six months ago, Swedbank were the only bank to offer application for iPhone, today all major banks offer mobile banking via mobile web and applications. Swedbank still managed to be the application innovation leader by being the first Nordic bank to release an application for Android handsets.
Skandia, a Swedish niche bank offering both banking and insurance services, has introduced an application with a slightly different approach. They have launched, a mobile banking application connected via the customers’ VISA debit card. Customers can view balance and transactions and also make external transactions by entering the receivers’ card number.