According to a report issued by independent research and advisory company Aite Group, bank bill payments are forecast to reach more than 18 percent of US consumer bill payments by 2016 compared to 14 percent in 2009, whereas digital mailboxes loom as a competitive threat.
“There is a silver lining for banks: Mobile is creating new opportunities for the consolidator model to become ever more convenient to consumers than the biller-direct model,” says Gwenn Bézard, co-founder and research director with Aite Group and author of this report. “Banks and their vendors will have to move more quickly to improve the user experience, however, before the new generation of digital mailboxes and aggregators catches up.”
In recent news, online fraud detection start-up 41st Parameter and Aite Group have joined forces to release a webinar, Fraud Moving Downstream: Navigating Through the Rough Waters Ahead.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now