A new report from Aite Group, LLC provides an update on the online and mobile banking technology applications that top US financial institutions are likely to purchase or replace in the next 24 months.
It also provides an overview of the relative market share held by technology vendors across key online and mobile banking applications.
Based on a survey conducted between January and March 2008 of 23 of the top 80 US financial institutions ranked by number of checking accounts, the report finds that enhancing fraud protection and leveraging new channels or enhancing existing ones will dominate online banking technology buyers’ minds.
Of institutions surveyed, 59% say they are likely to very likely to deploy a mobile banking application in the next 24 months, while 41% say they will likely deploy a mobile bill payment application.
“Over the next 24 months, online banking decision-makers at large US financial institutions will focus their technology purchases on expanding their channel communication and service delivery capability. Vendors which fail to differentiate through thought leadership and unique technology on those issues will miss an opportunity to foster deeper relationships with their target market,” says Gwenn Bzard, research director with Aite Group and co-author of this report.
Thirty-six vendors and their relative market shares are mentioned in the report, including ACI, Actimize, Acxiom, BankDetect, Cashedge, ClairMail, Digital Resolve, Early Warning, Entrust, Equifax, Exact Target, Fidelity Information Services, Firethorn, First Data, Fiserv, Kana, Lexis-Nexis, MasterCard RPPS, MeridianLink, Metavante, mFoundry, Mshift, Oracle, ORCC, Pegasystems, Premier Global, Radware, Responsys, RSA, S1, Sybase, uMonitor, Vasco, Vaultus, Verisign and West Notifications Group.