FI Highlight: BankMobile

October 2, 2015
/   Spotlight

Financial institutions that aren’t developing and catering to the wants and needs of younger demographics are missing out on huge opportunities for growth. Luvleen Sidhu, Chief Strategy and Marketing Officer at BankMobile, spoke with...

EMV Liability Shift: Are You Ready?

September 28, 2015

The talking is nearly over for the US payments industry as October 1st sees the all-important EMV liability shift. Chip cards are being issued to consumers and merchants are upgrading their point of sale...

The 5 Most Dangerous Mobile Banking Habits

September 14, 2015
/   Voices

Mobile banking grows more ubiquitous every year. 52 percent of smartphone owners with a bank account use mobile banking, according to the Federal Reserve, and more than half of users log in at least...

The Case for CSR

September 7, 2015

The demise of a New York City law shouldn’t stop good works

FI Highlight: Nusenda Credit Union

September 1, 2015
/   Spotlight

While it is important for banks and credit unions to consider the needs of consumers, it’s also important for FIs to take employee needs into consideration as well. Michelle Dearholt, SVP of Human Resources at Nusenda...

Is a .bank Domain Right for Your Bank?

August 28, 2015
/   Voices

With the general availability of the .bank registry under way, more than 5,500 applications from over 2,200 banks have already taken place, according to fTLD Registry Services.

Can Smartphones Solve ATM Skimming

/   Insights

ATM skimming remains a big business for organized crime rings. According to a recent article in, card skimming accounted for more than $2 billion in losses. One new approach that banks are exploring...

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Making Banking Fun: Gamification in Financial Services

August 5, 2013
/   Insights

Recently, the team sat in on American Banker’s webinar, “Gamification in Financial Services: Five Proven Ways to Get an Edge,” which shared how leading brands in financial services have applied gamification to reach...

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Technology M&As: The Beats Go On

May 29, 2014
/   Insights

The ongoing fascination with Apple’s $3 billion purchase of Beats Electronics is entirely understandable, because it’s a cool story. However, it also says a lot about what’s going on between finance and tech.

What We’re Reading

May 5, 2011
/   Spotlight

Below are interesting stories the staff has been reading over the past week. What have you been reading? Let us know in the comments section below. Virtual Banking Worlds Provide Tangible Lessons American...

What We’re Reading: Thanksgiving Edition

November 22, 2012
/   Spotlight

Below are interesting stories the staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom. Mobile Thursday? Plans for Thanksgiving...

When we think about tablet computing—and we should be doing that a lot—here’s just one figure we need to absorb and fully internalize: 138 million.

No, that’s not how many tablet users there are now, or might be in the near future. It’s how many individuals will be using their tablet to do their banking by 2018.

Think about it: Just four short years ago, tablets basically didn’t exist (apologies to those with longer memories of the Newton and other attempts to create a full-on mobile computing market). Then the Apple iPad arrived, and the world changed.

Now, according to “Tablet Banking Forecast 2014 – 2018: Design and Deployment Strategies for Mass Adoption,” a new report from Javelin Research, tablets are well on their way to replacing laptops in the standard consumer environment. Adoption has officially hit the 50% mark, a stunning achievement by any measure.

Sure, there are inevitably signs of a slowdown. It was just reported that iPad sales fell by 9% in the last quarter, and the company’s revenue has also been hurt (in relative terms, of course—Apple still has big profits) by the fact that people are buying cheaper models. But on the flip side, Apple is also partnering with previous arch-nemesis IBM to sell industry-specific iPads, starting as soon as this fall. That could have a huge impact on tablet adoption and use.

But whatever happens in the big picture, the most relevant statistic may be that the number of people using tablets to do their banking has increased tenfold in just the past three years. That’s likely a growth spurt we’ve never before experienced in our industry, and we need to take note. It means undertaking a full evaluation of what we’re doing now to cater to this market, and what we should be doing instead.

Here’s the reality: We all acknowledge that there’s been a steady march toward mobile banking—the numbers are undeniable. Bank of America had 13.2 million mobile customers last year; now it’s up to 15.5 million, a 17% rise. Wells Fargo just announced that it’s got 13.1 million active mobile customers, a 22% spike over last year. It’s 23% in Chase’s case, and 21% for Citigroup.

So is that a march or rather a sprint? And if it is a sprint, are we keeping up?

Let’s also acknowledge that this is all a good thing. The practice not only helps save banks money but also offers enormous convenience to those who have accounts but might live in remote areas, and a new level of access to those who are unbanked. By any definition, this is a source of incredible new revenue and profit streams.

But change doesn’t come easy. When the Internet itself first arrived, the sheer level of opportunity caused consternation in many industries, and financial services was no exception—for online banking to succeed, many standard operating procedures had to be radically transformed, which inevitably created problems. Then the move toward company-specific applications, especially as they applied to the mobile universe, brought another transition. That was accompanied by its own high level of discomfort, thanks to the diversity of form factors and operating systems involved.

So that brings us back to the tablet. Yes, it’s one more mobile device, a fundamental component of the larger mobile universe. But is there more to it?

After all, the laptop was the original mobile device—we carried it around in a way that the desktop PC never allowed, and that changed our basic relationship with the computer. It took a while for many companies and their application developers to grasp that fact. As tablet adoption speeds forward at a breakneck pace, replacing laptop usage in the process, should we be developing strategies that are specifically for this form factor, rather than the laptop above and the smartphone below?

It may be a little early to be asking that question. But then again, looking at the numbers, maybe not.


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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Brad Strothkamp

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.