Reading articles from The Financial Brand is always a good way to keep abreast of trends in the US banking industry, not least with a recent piece on app functionality (based on a recent industry survey) called “Major Banks’ Mobile Apps Evolve into ‘Payment Central’ for Consumers“.
But reading the article you could be excused for thinking the survey highlights radical new developments in retail banking functionality:
- “Payments functionality on mobile banking apps keeps expanding, as consumers want to execute more complex transactions.”
- “Major banks’ consumer mobile apps are becoming home to mobile payment control centers.”
Whereas the truth is that anyone with a passing knowledge of the retail banking space in Australia would recognise that the “more sophisticated tasks” referenced in the survey are really just functions that most Australian banking apps have delivered for years. For example:
Continue reading “Australian banking apps are better than we think”
Anthony Voigt 