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Jim,

Not to forget the potential of tablets in business/corporate banking space. Most treasurers/corporate users I talk to show strong interest in native tablet apps that can render business critical functionalities like cash positions, cash flow forecast, authorisation of payments and authorisation of forex deals. Mobile phones do not stack up with the best UX in this area.

Secondly, enterprise mobility is a huge area of potential for tablets that banks should tap into. We havent seen many state of the art industry verticalised enterprise mobility apps yet.

Lot of things around privacy for sure but couldnt help 'peep' in when this finextra mail alert came in! :-)

This segment hardly cares about technology at the delivery point. Considering how they are pampered by wealth advisors, that is the only channel of interest to them. Having said that insight led advices can only be enabled by technology and hence one should never rule out the role of technology.

Agree Brett. Did not mean to say PFM hasnt taken off since there is no perceived need for it but was exactly pointing to the lack of effort from banks to provide the 'instant gratification' you mentioned

CRED - will try it when you come into Netherlands :-)

Salil

I largely agree with you Brett and while it is beyond debate that the paradigm has changed, please check the following - Ron's recent note. Hard to ignore

http://snarketing2dot0.com/2012/09/24/pfm-is-dead-long-live-fpm/

And I am driven to believe, PFM is just an example

How do you maintain such a coalition in the long run? Maintainability, upgradeability and all of it!

Hi Brett,

I guess awareness and education are key drivers for a shift in buying and engagement behaviour. In case of the retail industry, this probably wasnt a big barrier. General availability of connectivity, online presence and anywhere access was all that was needed. The products were already commoditised and were literally a part of daily lives. This was achieved through years of information exchange, visibility, footfalls at physical stores and even through the education system inherently.

This however, is a big chasm to plug in case of banking and financial services. Basic money in money out products and transfers barring, people still tend to be not-so-aware when it comes to managing own money. People are less informed on opportunities and opportunity losses. The more sound people believe in their own decisions and opinions, the more they tend to speak up.

I guess this is a primary barrier banking providers (banks or non-banks) need to tackle. And it is probably beyond this barrier that you start seeing the kind of explosion that you see today in music and online retail. I guess until then any amount of online, social media and next gen tools will face a certain level of risk of skepticism

Traffic at a retailer is not expected to be as huge as in a transit system so let us be fair that most tap and go payments will be protected by the consumer with a pin which is not the primary consideration when RFID is implemented today in a retail/transport context

Also, the reading range of RFID is far more than an NFC chip and hence riskier. Not sure if the two are comparable in the same context 

Either way I dont think this is a big reason for poor adoption of contactless

was inevitable. One can argue on the need for a large scale branch network till cows come home but these are the banking industry bellwethers we are looking at.

Matter of time before Europe follows suit

Is this really a 'first'? ISBank in Turkey had had this for some time now