Mobile banking: where time stands still

Denis Margolin, Vice President of Mobile Solutions at DataArt, contributes a bylined article to The Digital Banking Club, discussing a lack of mobile consumer banking apps on the market and ways to address the issue.

“Banks continuously invest to provide their customers with tools to manage their finances. Mobile banking solutions primarily provide day-to-day control over bank accounts - but is this really what retail customers need and want? Our concerns in life are much more diverse than just have control over the account. Yes, we need to plan our finances and make payments - but we are not interested in setting up recipients, entering long strings of numbers and browsing through obscure transaction codes and strange references that do not correspond to shop names, just to understand how much we spend on what. This is the technological heritage from the age of the bank branches.”

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