Banking Exchange Magazine Logo

Community bankers put mobile as top tech priority

In a survey last month of the 100 members of ABA's Community Bankers Council, the 44 bankers responding clearly had mobile on their minds-an in their budgets. 

In a survey last month of the 100 members of ABA's Community Bankers Council, the 44 bankers responding clearly had mobile on their minds-an in their budgets. Asked which of four technologies or technology-enabled services their bank would adopt or expand this year, 81% checked "mobile banking." Next closest was "social media" at 43% followed by "customer relationship management" at 32% and "cloud computing" at 14%.

A separate, open-ended, question asked what will be the "must have" technologies in the next 12-18 months. Of the 26 answers given, 25 mentioned mobile as at least part of the answer.

It was clear from the statements that many of the banks offered some form of mobile banking already, and were looking to enhance or upgrade their service. Some form of mobile payments including person-to-person was mentioned by several.

The respondents ranged fairly evenly in asset size from 7 (16%) under $100 million to 5 (12%) at $1 billion or greater. The largest segment consisted of 17 banks (40%) in the $100 million to $300 million category. 

Other highlights:

We asked whether the banks allow employees to use their personal electronic devices for bank business-a trend commonly referred to as "bring your own device" and 58% replied "yes." A related question asked how important it is to have a "BYOD" policy in place, and 68% of respondents were split evenly between "Very important" and "Important."

Only a handful of banks (8%) indicated they were "very likely" to upgrade their banks' core system this year or next, with another 10% "somewhat likely." The other choices were "not likely" (57%) and "already upgraded" (25%). A bank technology vendor, told of this finding, observed that the numbers were consistent with his experience. Core conversions have always proceeded on a gradual basis.

Other questions asked about security steps being implemented and plans for outsourcing.

Click here to see a pdf of the full results, including verbatims.

Tagged under Payments,

back to top


About Us

Connect With Us


Webinar: From KYC to IDV

How three leading banks are utilizing cutting-edge
digital tools to onboard, win, and wow customers

Time/Date: June 23, 2021 11:00 a.m. ET

Digital adoption, already moving at warp speed, accelerated seven years into the future during the COVID-19 pandemic. As the number of bank branches continues to fall, with at least one study predicting all branches will disappear by 2034 (Fox Business) and foot traffic declining (Vox), today’s most innovative banks are charting a new, digital-first path to win over customers while increasing security, meeting KYC compliance requirements, and winning customers to drive revenue.

In this webinar, you’ll hear from John Baird, Founder & CEO of Vouched, Tyler Crawford, COO of Bankers Healthcare Group, Anand Sathiyamurthy, CPO of Flagstar Bank and Daniel Sheehan, Chairman & CEO of Professional Bank as they describe their vision for digital transformation and how customer expectations are changing to digital first. They’ll also explore how fostering an innovation mindset creates new ways to tackle complex KYC problems and allows them to quickly compete in new markets and win customers.


This webinar is brought to you by:
Vouched Logo