Banks struggle to keep up with mobile demand

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While banks all have a mobile banking app, their clients are still pushing for more and more mobile capabilities.

So says Mary Monahan, executive vice president and research director for Javelin Strategy & Research, a California company that rates banks on their mobile offerings. She says that many tech-savvy customers still "cannot open accounts via smartphone, make payments, or deposit checks by snapping photos of them."

"We have to bring out added functionality," Monahan said. "It's getting better. But there's a long way to go."

Monahan reveals that 16 of the top 25 banks in the USA allow customers to deposit checks remotely this year, up from only six banks in 2011.

For an industry with IT development dollars to burn, banks are missing opportunities to bond with customers and sell other services such as loans. According to Ed O'Brien, the director of banking channels at Mercator Advisory Group, "The point is to be so joined at the hip with the customer, they wouldn't think of leaving the bank."

So if you're an ambitious CTO, book a meeting with the mobile banking rep and bring your white board. Your ideas are needed - now.

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