Investing in Mobile

“Mobile and banking fit together like chocolate and peanut butter,” says Jim Pitts, project manager of the Financial Services Technology Consortium, the technology solutions division within The Financial Services Roundtable. In 2011, mobile will be the focus, but that focus won’t hinder investments in cross-channel integration. In fact, Pitts says mobile innovations will serve as catalysts for infrastructure changes — changes that lead to more integrated channels across the enterprise.

“I think investments in mobile and channel integration are going to vary quite a bit from institution to institution. A lot of it will depend on demand,” he says. “But I don’t think the investments will be exclusive; they will be complementary. And mobile could be the real catalyst for more investments in channel integration.”

During this interview (transcript below), Pitts discusses:

• Mobile innovations, improved security and authentication;
• Mobile’s role in transactions across other banking channels; and
• Preparing for competition in the mobile arena.

Jim Pitts is project manager for the Financial Services Technology Consortium, the technology solutions division within The Financial Services Roundtable. Pitts recently led a series focused on mobile payments, multiple initiatives targeting improved industry collaboration to fight transaction fraud, and the sharply increasing challenges associated with records management and information governance. Jim is the producer and author of the “Surfing Payment Channels” book series, providing perspectives from various industry experts on the rapidly changing payments ecosystem.

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