Banks take lead from developers, not top smartphones, for mobile apps

14.04.2011
BOSTON - While the OS may be leading the pack in sales, it's not the phone for which banks are writing applications. That would the No. 3 instead.

Banks are writing applications for mobile services such as account access and online bill pay for the iPhone because that's the phone for which most other industry developers are creating applications, says TowerGroup.

The market research firm says Android smartphones have 31.2% of the market share; 30.4% is owned by RIM; 24.7% bnelongs to and its iPhone; Window 7 phones hold 8%; and Palm devices have 3.2%.

"But support for the Android is surging," said Andy Schmidt, TowerGroup's research director for commercial banking and payments, speaking at here.

Schmidt went on to say that "very few banking applications" support the BlackBerry.

Schmidt urged financial service firms to not be "fast followers" when it comes to embracing mobile applications because the institutions that do may find themselves losing customers.