“The latest trend in mobile devices relates to the size of the devices themselves. Whereas the first smartphones were small and the first tablets were large, the size of these two devices is now drifting toward each other. Tablets are getting smaller, while smartphones are getting larger. The most recent data shows that tablets and smartphones are actually moving into something called the ‘phablet,' a device that incorporates designs aspects and size from both tablets and smartphones, with a diagonal screen size between five and seven inches.”
"There is no doubt that over the next 5 to 10 years innovations like wearable technology and digital currencies will play a major role in the evolution banking. But when it comes to meeting the immediate needs of the millennial generation, the solution is much simpler. By redesigning the mobile-banking experience, Canada’s banks can reestablish their relationship with digitally native customers, continue to build on the trust they’ve earned, and empower young adults with the financial confidence that will make them valuable customers today and in the future."
iCloud Hack Underscores Risk to Banks When Employees Use Cloud
American Banker’s @Penny Crosman highlights the right and wrong ways for bank employees to use cloud tech.
“Some bankers, like James Gordon, the chief information officer at Needham Bank in Massachusetts, discourage employees from putting apps with cloud storage capabilities on devices used for work. If an employee installs a banned app on a phone, the bank automatically removes its email app from the device, he said in July. If the user uninstalls the problematic app, the company email software will be reinstated.
Many personal cloud storage services offer multi-factor authentication, or work with an app like Google Authenticator that creates one-time passwords and texts them to the user. This is a good feature for banks to take advantage of.”
Financial Marketers Unprepared For Era of Big Data
The Financial Brand’s @Jim Marous on they ways FIs of all sizes need to become data-driven companies.
“With all of this insight, banks have done a pretty good job of looking back in time and leveraging historical data. Looking forward has been more of a challenge. In fact, despite the importance of leveraging data for improved results, seventy-one percent of chief marketing officers around the globe say their organization is unprepared to deal with the explosion of big data over the next few years, according to an IBM survey. They cited it as their top challenge, ahead of channel fragmentation, shifting demographics and regulatory or privacy considerations.”
Why Mobile Payments, Not A Bigger Screen, Will Be the Defining Feature Of The iPhone 6
Business Insider’s @Dave Smith on the disruptive potential of the rumored iWallet.
“Apple already stores a great deal of financial data in iTunes, but by giving users control over their finances in a simple app, they can learn more about their spending habits, or even set spending limits on their children's’ devices, which would disallow kids from charging millions of dollars worth of in-app purchases.
Apple must have found a great solution, because it’s finally convinced all of the major credit card companies to work together on the service, according to Re/code.”
“If you’re like most financial institutions, you know that mobile development is a complicated and resource-intensive process. It’s like you’re fighting the multi-headed beast from ancient mythology. The moment you figure out one mobile solution--HTML5, iOS, Android--another one pops up. You cut off one head, and two more grow back. And with Amazon and Windows pushing new mobile strategies, the problem isn’t going away anytime soon.”