iPhone taking mobile Banking to the Next Level
It is no surprise to most of you that the iPhone is one of the hottest smart phones on the market today. In a recent article from Twice, the total number of iPhone activations “surged” to over 2.4 million in AT&Ts second quarter this year. But what effect will this have on mobile banking if any?
According to Brad Strothkamp of Forrester Research, we will see the day where mobile banking will be changed by the iPhone for a few reasons.
One of which is the recent spike of market shares for the iPhone- that has risen from “5.3%” to “10.8%”. This is no doubt largely due to the latest release of Apple’s 3GS iPhone. I predict this rate of increase will continue to flow each year, if Apple continues to Wow the market with bigger and better versions of the iPhone at lower costs.
Another comes from the increasing amount of mobile bankers that are using the iPhone and/or Ipod touch to do their banking. Strothkamp writes that the Bank of American recently reported in June that of their 2.7 million customers- 40% of them use an iphone or ipod touch to complete some form of banking. That is approximately 28% higher than the company reported in February of 2009.
Innovation tops the last rational for this predication. Banks such as USAA that have been on the forefront of implementing new methods will make it even easier to do more transactions from the smartphone. They plan to allow their members to deposit checks soon via the iPhone camera. Being a USAA member for the past 11 years, I am very excited to meet this change.
The above information provided by Srothkamp lays the ground work to make the iPhone the choice among mobile bankers in the near future. This with a combination of mobile banking incentives and decreased costs of the iPhone will certainly push this idea into fruition a lot sooner than later.
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The cpu is labeled as a little bit recent model amount but it and also the GPU are likely the similar speed as the 3GS. The old Contact using the similar Processor and GPU as the 3G was quicker. Besides getting the clock speed turned up higher the Contact has much less software to run since it is not a phone. It should do more than any iPhone to day in overall performance.