Mobile social money, the final frontier?
In the final part of discussions of social networks,
media, banking and money, I thought I would turn attention to the use of mobile
devices as access media to these networks.
Mobile usage in banking has grown
to a crescendo in the past year, after bubbling away nicely since the turn of
this century.
This is in part down to the fact that the latest smartphones allow a
bank to deploy fully functional internet banking services to mobile devices
using the same platform as their main websites.
In other words, it is now cost-effective and appropriate to do this.
However, the challenge with mobile finance is that
we tend to discuss mobiles as one homogenous group of devices when:
(a) there
are many devices; and (b) the use of mobile devices to access financial
services are not homogenous.
Let’s look at (a) first.
