The Bankwatch

Tracking the consumer evolution of financial services

Why iPhone is game changing, and Bank technologists should take notice

iPhone is more than a phone. It will act as a catalyst for change. It contains technology capabilities that are much more open than phones to date which are generally closed, with limited browser capabilities. This from Chris at FactoryCity.

FactoryCity » Why I’m involved in iPhoneDevCamp

iPhoneDevCamp isn’t really about the iPhone. Personally, I could care less about the iPhone. What I am interested in, however, is the opportunity that the iPhone affords to promote the development and building of open web technologies in the conspicuous absence of proprietary technologies like Flash, SilverLight et al.

Mobile banking has been held up for many reasons, including focussing on the wrong things. But a key impediment, has been the limited browser capabilities of the phones, as telco’s seek to force users into telco authorised content.

Smart developer people will work out the implications, but the power in platforms that cross between PC and phone are significant, making more universal services easier to create.

Update:  LA Times coverage of iphonedevcamp (Reg’n required)

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Written by Colin Henderson

July 7, 2007 at 15:53

4 Responses

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  1. […] Why iPhone is game changing, and Bank technologists should take notice […]

  2. The iPhone may have several capabilities that are lacking in traditional phones with inbuilt browsers, but unable to see the correlation between that and some very new, ground breaking stuff in mobile banking.

    For one the iPhone is priced very steeply and offered (for now) with a very limited set of telcos (though that may change in the future). It therefore will have a much lower penetration that that of a simple PC connected to a broadband connection. Given this it remains to be seen how many would find it worthwhile to build solutions for its specific capabilities.

    Secondly there are already mobile banking solutions that work with existing J2ME enabled phones or even simpler solutions based on SMS/ WAP. And all of these are doing quite well giving people what the need while they’re on the move. Not sure how many folks would want to, say, do something like looking at a deposit modeling scenario and then open a deposit, while sitting at the airport lounge and twiddling on their iPhone.

    Unless iPhone moves away from being a very niche product and becomes a more generally accepted platform, with all the nice things that Apple has built being on offer to any hand phone maker/ telco. Somehow, don’t see this happening.

    Shreepad Shukla

    July 9, 2007 at 03:59

  3. I am just looking at such events as the iphonedevcamp last weekend, as well as what I read, and I think I see potential for the phone to extend across PC and phone is a meaningful way. for example just today I read about WordPress having optimised their sites, ie this blog, for iphone.

    However I also agree that while huge, it may remain niche.


    July 9, 2007 at 10:55

  4. i struggle to see how the iphone can make it against more established operators long term – for example sony / nokia etc who churn new & improved models out every month…great marketing though..

    i have a nokia n95 running symbian 60 -am amazed how fast mobile tech has evolved in the last 3 yrs ..its got 3G with full unlimted internet access at a flat rate with no d/l limitations ,wlan, GPS and 5Mp camera all in one unit ( battery life is the downside)

    i’m sure phones are going to converge even more & likely to become the payment device of choice once authentication and security are resolved properly eg some kind of biometrics integrated on board rather than pin access… its going to be interesting where and how fast this technology moves ..after all… all mobiles have a smartcard in all phones called a sim – whose the going to be the first bank/telco to integrate EMV /sim with biometrics & how far are we off 10 yrs, 5 yrs , 3yrs

    … a digital camera in a phone isnt a million miles away from a basic fingerprint reader or a barcode reader … makes you wonder…

    i can mobile bank now on nearly any bank site as im using the webbrowser – not a great experience – but thats more down to site design than the phone…only because it was designed around pc access not mobile access


    July 9, 2007 at 12:52

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