Banks Don’t Get Android (or Consumers)
The story of Jeff Peiffer and his unsanctioned Android banking app is a spotlight on how the Banks have still got it wrong in their approach to mobile (and online) banking. By not embracing access to services through public APIs and providing security and authentication as a service, banks ensure one thing: They will never enjoy the exponential growth in usage that new consumer behavior could drive.
Branded applications are definitely a must for all mobile app platforms, but as the success of aggregators such as Mint.com have shown for account information, consumers benefit from access to their money from many endpoints.
I chuckled a bit at IDC Aaron McPherson’s comment in this article suggesting that “independent developers should not be getting involved”. Since independent developers really haven’t contribute at all to the success of mobile applications. Not one bit.
From → Mobile Banking