So why are banks so determined to have mobile banking/payments integrate to their core banking systems and/or credit card systems? There are so many reasons why it make sense to run mobile off a seperate (new?) value store that is not hosted on the core banking system:
- A seperate account would enable us to deliver the service much more cheaper by eliminating expensive (unneeded) services (like monthly statements, teller/branch support etc.)
- It would keep high-volume (potentially unreliable) transactions away from the heart of the bank
- It would allow banks to offer services to people without bank accounts.
- It would enable much faster times to market by making use of dedicated, turnkey solutions (like Fundamo Enterprise Edition).
- It would give the industry the opportunity to learn before attempting difficult and complex integrations.
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