Mobile Banking & Payments

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Executive Summary

Today's business and technology climate has disrupted customer relationships for Financial Institutions (FIs). This is making it harder to retain assets, acquire new customers, cross-sell products and mitigate fraud, while concurrently driving up the cost to service customers. But traditional interaction channels - including most mobile banking solutions - are initiated by customers, not FIs. So how can FIs take control of their customer relationships? The answer is the mobile channel. Mobile provides unprecedented coverage; 95 percent of bank customers own a mobile phone, which most people keep by their side 24x7.

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