Mobile Banking Products Today: A Look at the Top 30 Banking Institutions

March 15, 2012 - PRLog -- Boston, MA -- For years, the promise of mobile banking had been ahead of the reality of the technology, but this has changed with the adoption of Web-enabled mobile phones, specifically smartphones. Mobile banking is now a high priority for the top U.S financial institutions, and investment in new mobile products and capabilities continues to grow at a rapid pace.

In new research, Mobile Banking Products Today: A Look at the Top 30 Banking Institutions, Mercator Advisory Group reviews the variety of mobile banking products available at the top 30 banking institutions in the United States.

Highlights of this report include:

Three primary categories, or modes that exist within mobile banking, each appropriate for use at different times, depending on user reference

Products that financial institutions (FIs) are upgrading and supporting for each mode, often by using third-party partners and outsourcers to speed development and time to market

The tools FIs are using when reaching out to prospects and customers regarding available products to differentiate themselves and spur adoption

Factors that will determine the further adoption of mobile banking, including customer comfort with available security which is of paramount importance and will determine the future growth rate of mobile banking

The shift in strategy and importance many FIs are making as mobile banking continues to evolve

"Increasing customer demand has spurred financial institutions to offer one or more variants of mobile banking. Customers are increasingly embracing mobile banking because of its ubiquity and convenience, and financial institutions see the growth potential and overall value that this important banking channel offers," Ed O'Brien, director of Mercator Advisory Group's Banking Channels Advisory Service comments.

This report is 33 pages long and has 17 exhibits.

Organizations mentioned in this report include: Apple, Bank of America, BB&T, BBVA, Chase, Google, HP, Huntington Bank, KeyCorp, Microsoft, M&I Bank, Palm, RIM, USAA, US Bank, Union Bank, and Wells Fargo.

Members of Mercator Advisory Group's Banking Channels Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at www.mercatoradvisorygroup.com.

For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send E-mail to info@mercatoradvisorygroup.com.

For free industry news, opinions, research, company information and more visit us at www.PaymentsJournal.com.

Follow us on Twitter @ http://twitter.com/MercatorAdvisor

About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.