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Innovations in Mobile at Finovate

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18 October 2011
Bart Narter

Abstract

Mobile financial services remains perhaps the most exciting topic for bankers today. They are still relatively new, and they are changing rapidly. Press releases announcing “the next big thing in mobile” are issued almost daily around the world, and many get starry eyed when talking about the size of the mobile market and how mobile is changing the financial services and retail landscapes.

In this report, Innovations in Mobile at Finovate, Celent discusses companies presenting at Finovate that displayed a meaningful offering in the mobile space. The following startups are featured:

  • Bankons
  • Discover and PayPal
  • eWise
  • Goal Mine
  • Kony
  • Mitek
  • Truaxis
  • Wipro

“Mobile is very important. There are over 1 billion mobile Internet users globally, and 23% of the time, they are accessing the Internet their via mobile phones, according to Google,” says Bart Narter, Senior Vice President of Celent’s Banking Group and author of the report, “Mobile is better suited for consuming information than entering data. It is far easier to enter information on a PC, on which it is much easier to originate accounts and set up bill pay recipients than a mobile device.”

In this report, Celent evaluates each startup company’s mobile offering based on criteria such as relevance to financial institutions, relevance to end users, innovation, market voids filled, business models, and relevance to mobile.

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