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Banks Don’t Get Android (or Consumers)

June 17, 2010

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.

Mobile Users Want Android, Banks Don t Have It – American Banker Article.

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From → Mobile Banking

One Comment
  1. Jeff Peiffer permalink

    For what it’s worth, I completely agree with you. A good, secured, API would be significantly better than what they have now. They could require API keys that tie back to programs / developers to ensure that things do not go awry.

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