Why banks should offer business customers a different mobile banking application than consumers
--(BUSINESS WIRE)--In today’s economic environment, it is critical for financial executives and business owners to have full access to financial information at all times and through multiple channels, including mobile. Many banks recognize commercial mobile banking as a growing trend, but are still slow to roll out the service to business customers. For banks offering mobile banking to businesses, most have simply re-packaged consumer applications for business use, but consumer applications do not provide businesses with the added functionality and enhanced security capabilities required.
Nick Holland, senior analyst with Aite Group, said in a recent report1, “Small businesses are looking for a host of extra functionalities above and beyond the requirements of vanilla mobile banking, such as wire approvals and positive pay. Banks will be looking to monetize small-business mobile banking, and an offering that does not justify end-users paying for the service is unlikely to receive implementation.”
Online Banking Solutions (OBS) recently launched the industry’s first-ever commercial mobile banking offering, Messenger Mobile Service, a new mobile channel to support commercial banking transactions for banks’ business customers. In addition to TEXT/SMS notifications, users can view account balance, transaction information and special reports; initiate account-to-account transfers, pre-defined payments or payment batches; and receive service alerts, payment advices and urgent notifications. Messenger Mobile Services provides a mobile banking channel with applications for iPhonetm and Blackberrytm smart phones.
| Who: | Joe Spatarella, VP Sales & Marketing for OBS, can discuss why banks should offer business customers more than a consumer mobile banking application, and explain what sets a commercial mobile banking application apart from one designed for consumers. | |
| When: | | Spatarella is available immediately for commentary. |
| Contact: | | Mary York |
| | | Media Contact for OBS |
| | | 678.781.7221 |
About Online Banking Solutions (OBS):
Founded in 2002 by a management team that pioneered Web cash management and business banking technology, launching two successful financial technology companies, Online Banking Solutions (OBS) provides next-generation Online Messenger multi-channel reporting, transaction and file delivery services to banks including seven of the top 50 U.S. financial institutions. Private, profitable and based on the philosophy of over servicing clients, OBS offers financial institutions the extensiveness of a large-scale technology provider, but the tenacity of an agile, service-driven organization. For more information, visit www.onlinebankingsolutions.com.
1 Editor’s Note: “The ROI of Small-Business Mobile Banking,” September 2009, Aite Group
