New Report from Aite Group Looks at Online and Mobile Banking Technology Purchasing Trends

21 April 2008

A new report from Aite Group, LLC provides an update on the online and mobile banking technology applications that top U.S. 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 U.S. financial institutions ranked by number of checking accounts, the report finds that enhancing fraud protection and leveraging new channels (e.g., mobile) or enhancing existing ones (e.g., e-mail) 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 U.S. financial institutions will focus their technology purchases on expanding their channel communication and service delivery capability," says Gwenn Bézard, research director with Aite Group and co-author of this report. "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."

Thirty-six vendors and their relative market shares are mentioned in this report, including ACI, Actimize, Acxiom, BankDetect, Cashedge, ClairMail, Digital Resolve, Early Warning, Entrust, Equifax, Exact Target, Fidelity Information Services (including EFD), Firethorn, First Data, Fiserv (including CheckFree, Corillian), Kana, Lexis-Nexis, MasterCard RPPS, MeridianLink, Metavante, mFoundry, Mshift, Oracle, ORCC, Pegasystems, Premier Global, Radware, Responsys, RSA, S1, Sybase (Financial Fusion), uMonitor, Vasco, Vaultus, Verisign and West Notifications Group.

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