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Industry Announcements

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New IDC MarketScape assesses North America mobile banking and payments vendors

Via IDC

Jun 7, 2017

Report provides critical insight into choosing right partner to deliver world class mobile experience

FRAMINGHAM, Mass., June 7, 2017 – IDC Financial Insights today announced the availability of a new IDC MarketScape report, IDC MarketScape: North America Mobile Banking and Payments 2017 Vendor Assessment (Doc # FI255723), that compares the major North American mobile banking and payments software solutions providers and outlines the most important criteria for financial institutions to consider when making a mobile banking investment decision. Nine vendors are evaluated including capabilities from: D + H Banking (utilizing Malauzai technology), NCR's Digital Insight, FIS, Fiserv, Jack Henry and Associates, Inc – Banno, Jack Henry and Associates, Inc – goDough, Kony, Malauzai, and Q2.

According to Marc DeCastro, research director, IDC Financial Insights,

"Mobility is a key component to the overall experience of the retail banking relationship and can no longer be looked at as a defensive strategy by financial institutions. Customers expect, and banks need to deliver, a world class mobile experience. Choosing the right partner is a crucial component of any banks' overall digital strategy and this research provides the foundation for making such decisions."

This IDC MarketScape evaluation is based on a comprehensive framework and set of parameters expected to be most conducive to success in providing mobile banking and payments solutions in both the short term and the long term. When thinking about a new mobile banking solution, IDC outlines what may influence a buyer, including:

  • Look for mobile banking providers that are taking a holistic approach to omni-channel, not just thinking about mobile as a point solution to solve a need. This may have been acceptable in the early days of mobile banking when there were many banks playing rapid catch up to some of the innovators, but today the environment is different and a laid back and myopic approach to mobility is short sighted.
  • Are the products positioned based upon the strategic direction of the institution? Does the bank's management still look at mobile banking as a defensive position or strategic expansion? And how are solutions being built to accommodate?
  • Mobile banking and payment organizations with strong references and continued growth reflect a commitment to focus on the financial institution's business outcomes. This commitment is often demonstrated by a use-case approach to the partner's capabilities, and provides strategic direction with their clients along with input on driving the product road map.

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants and end users. Market weightings are based on user interviews, buyer surveys and the input of a review board of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions within the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor's characteristics, behavior, and capability.

Related Topics
  • Finance & Banking,
  • IDC,
  • Mobile,
  • News,
  • North America,
  • Research and Trials,
  • Tracker

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This content extract was originally sourced from an external website (IDC) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

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