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ARTICLE · 01 SEPTEMBER 2008

New Mobile Banking Products Present Opportunities And Challenges

Godfrey & Kahn S.C.
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Online banking revolutionized how consumers conduct banking transactions for those who own computers and have Internet access.

United StatesFinance and Banking
Jason Kuwayama
Jason Kuwayama

Printed in Wisconsin Community Banking News June 2008

Online banking revolutionized how consumers conduct banking transactions for those who own computers and have Internet access. Although online banking initially stagnated in its infancy, mobile banking is expected to develop rapidly and eventually become a standard product offering by banks.

The nation's largest banks already have developed mobile banking systems that will soon offer unprecedented levels of convenience and value to customers. However, community banks can expect an even greater relative benefit from offering mobile banking solutions. The big five core processing providers have delivered mobile solutions to at least 200 community banks.

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