Mapa’s UK mBanking Dashboard compares a list of 70 individual Mobile Banking services across 7 banks. All information is obtained replicating the customer experience through the live accounts that they hold with these banks.
Mapa’s SMS Banking Dashboard compares a list of 100 individual SMS Banking services across 21 competing providers. All information is obtained replicating the customer experience through the live accounts that Mapa hold.
Both Dashboards is updated quarterly, highlighting competitor changes that have occurred in the market during that time.
Barclays have been the most active player in the mobile field the last months. Following the removal of SMS Banking highlighted in the Mapa update from February, the bank has now introduced their new and upgraded SMS Banking service. Barclays LayerCustomers sign up within Internet Banking and can register for regular balance alerts as well as triggered transaction alerts for a flat fee of £2 a month.
The use of ‘Augmented Reality’ has now reached the UK financial market. Within the mobile phone application Layar, available on iPhone and Android, Barclays customers can search for branches, ATM’s and contactless retailers. By combining the use of camera and GPS, users are able to see hits on a map, in a list or on the screen as an extra layer in the reality seen live through the camera.
HSBC and First Direct continue to extend the free period for their mBanking service which now lasts until the end of 2010.
A&L have now shut down their mBanking and SMS Banking services following the takeover by Santander.
Halifax has extended their SMS Banking services to include all customers. Previously, only Reward account customers were able to sign up for alert when going into unarranged overdraft.
The main change in the UK credit card market was the introduction of free text alerts by MBNA. This service has been available before but with service charges. The new service also includes new ad hoc alerts.
Additionally, an interesting finding from Mapa research was the use text messages in correlation to the flight disruptions caused by volcanic ash. Several UK banks seized the opportunity to contact their customers via SMS with information on how they could get financial help from their bank.