Downloadable Tablet Apps Said to Be 'Next Frontier' to Win Younger Customers

By Fitzgerald, Kate | American Banker, February 9, 2012 | Go to article overview

Downloadable Tablet Apps Said to Be 'Next Frontier' to Win Younger Customers


Fitzgerald, Kate, American Banker


Byline: Kate Fitzgerald

Developing the slickest mobile-tablet applications that enable consumers to manage routine credit and debit card spending through their larger touchscreens will be essential for large banks looking to hold on to younger, more affluent consumers over the next year, new research suggests.

As distribution of tablet devices such as Apple Inc.'s iPad surges, the race is on among banks to develop the most feature-rich applications for diverse banking products for the newest generation of devices, says Mary Monahan, executive vice president and research director, Javelin Strategy & Research.

And the banks that do it best likely will keep sought-after younger consumers that prize mobility and who are enamored of downloadable tablet apps that offer brighter, more colorful touchscreen account-management features, she predicts.

"In discussions with consumers, we learned that one of the top reasons younger consumers stay with a bank is the quality of its mobile-banking programs, and tablet apps are the next frontier," Monahan says. "Banks that offer the best mobile account-management apps across all types of devices and banking products are going to be in a position win younger, more affluent consumers."

In its "Mobile Banking, Smartphone and Tablet Forecast 2011-2016," which Javelin released Feb. 6, the firm gathered data primarily from among 3,180 consumers surveyed online in June; the report also included data from two similar surveys conducted in March and October last year.

Some 48% of U.S. banks provide credit card account access through mobile-banking channels such as smartphones, Monahan estimates, based on Javelin's latest research.

A growing number of banks provide downloadable mobile-banking apps for tablets, but so far only Citigroup Inc. claims to have a downloadable online-banking app for tablets that includes both credit and debit card account management.

Other banks likely have such products in the pipeline, Monahan says, although she could not cite examples.

"Many banks have mobile apps for credit cards, too, and porting them over to tablets should not be hard to do," she says. "We are likely to see more development along these lines soon."

Even as banks introduce snazzy new mobile-banking apps for tablets, consumers continue to use diverse channels to access mobile-banking services "from their computers to their smartphones to their tablets to calling customer service," Monahan notes. "Consumers want it all, and they want a consistent, simple experience in mobile banking.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Downloadable Tablet Apps Said to Be 'Next Frontier' to Win Younger Customers
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.