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November 24, 2008
ClairMail System Leads Industry in Monthly Mobile Banking Transactions
By Susan J. Campbell, TMCnet Contributing Editor
ClairMail Inc., a provider of 2-way mobile phone-based customer interaction, has announced that the ClairMail System is now processing millions of monthly mobile banking transactions and seeing tremendous adoption and continued growth. In fact, more than 12 mobile banking transactions have been conducted every month per consumer.
ClairMail's results are more than three times the monthly transactions per consumer found in published reports from other mobile banking solutions. It also demonstrates the positive impact that ClairMail’s unique 2-way solution creates on consumer usage.
ClairMail's results are more than three times the monthly transactions per consumer found in published reports from other mobile banking solutions. It also demonstrates the positive impact that ClairMail’s unique 2-way solution creates on consumer usage.
Adoption rates significantly higher than industry averages have been experienced by ClairMail’s bank customers. This growth is attributed to ClairMail’s easy-to-use, 2-way mobile banking and payments services, as well as the ability for consumers to choose their preferred mobile interface.
ClairMail customers have seen as much as 25 percent adoption by online banking consumers – well above industry averages. In fact, the industry adoption rate for a bank’s online consumer base averaged less than 3 percent according to published data related to other mobile banking solutions.
ClairMail customers have seen as much as 25 percent adoption by online banking consumers – well above industry averages. In fact, the industry adoption rate for a bank’s online consumer base averaged less than 3 percent according to published data related to other mobile banking solutions.
ClairMail is designed and positioned to be the only mobile banking and payments solution that will deliver 2-way mobile banking and payments functionality on all mobile phones with consistency across all three user interface types, including messaging, mobile Web and client applications, also known as 2-way triple play.
To provide a bank’s customers with a comprehensive suite of 2-way mobile banking and payment services, the ClairMail System seamlessly and securely integrates with a bank’s system of records on one platform with a single implementation.
The solution incorporates a powerful Event Engine that can easily handle the potential transaction volumes from banks of any size and deliver real-time, 2-way actionable alerts.
The solution incorporates a powerful Event Engine that can easily handle the potential transaction volumes from banks of any size and deliver real-time, 2-way actionable alerts.
"Banks should take advantage of the dynamic nature of the mobile channel to maximize customer service through mobile alerts," said James Van Dyke, Founder and President of Javelin Research, in a Monday statement.
"The 2-way, dynamic, real-time nature of alerts in the mobile channel is the primary factor that separates this from the online channel and proves a value to consumers to encourage adoption."
"We have seen massive growth of our 2-way mobile banking and payments platform. It's a testament to ClairMail's convenient, secure and easy-to-use 2-way solution, which is particularly valuable in these challenging economic times," said David Thompson, vice president of marketing of ClairMail, in the Monday statement.
"As ClairMail continues to roll-out the ClairMail System for new customers over the next few months, we will continue to see the adoption of our technology rise dramatically."
"We believe the rise of next-generation mobile banking and payment solutions will forever change banks and payments companies," said Virginia Garcia, senior research director of TowerGroup, in Monday’s statement. "Mobility has the potential to enable timely, relevant, and actionable outreach that will ignite customer engagement unlike any other channel."
According to TowerGroup estimates, every month through the first quarter of 2009, between 150 and 300 banks and credit unions in the United States will sign contracts for mobile banking solutions. Mobile banking is expected to surpass 6 million users by the end of 2008.
There is no doubt that consumers are becoming more mobile and therefore demanding more solutions that blend with their tendency to be “on the go”. The same is true for banking solutions, demonstrating that traditional methods of banking are no longer enough to meet consumer demand.
According to TowerGroup estimates, every month through the first quarter of 2009, between 150 and 300 banks and credit unions in the United States will sign contracts for mobile banking solutions. Mobile banking is expected to surpass 6 million users by the end of 2008.
There is no doubt that consumers are becoming more mobile and therefore demanding more solutions that blend with their tendency to be “on the go”. The same is true for banking solutions, demonstrating that traditional methods of banking are no longer enough to meet consumer demand.
As a result, banks are turning to companies such as ClairMail to implement the mobile solutions they need to satisfy the growing demand among the consumer base. As this area of industry continues to heat up, we will likely see increased competition and it will be up to ClairMail to maintain its leading position through a proactive approach to innovation.
Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan's articles, please visit her columnist page.
Edited by Stefania Viscusi
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