May-June 20176By any measure, the year that has started well for banks and credit unions is slated to usher in a number of unseen, `often-kept-for-later-use' technologies into the banking industry, and mobility will be the golden key for opening these multiple vaults. Starting with Open API, IoT, and Artificial Intelligence (AI), the anticipation is high as ever, leaving endless possibilities and routes for better engagement with account holders through frictionless and flexible banking channels.Last October, Bank of America set pulses racing, when it unveiled Erica, its intelligent chatbot--very much like the iPhone's Siri, only better and more banking-centered--powered by AI and machine learning. With the trail laid, other banks, leaders as well as the smaller institutions are following the now-solid footing toward AI-powered and voice-first banking, delivered not only on smartphones, but also to other devices, such as wearables and tablets.Predominantly whatsoever, the name of the game has always been to target smartphone users, the fraction of which will climb to around 63.5 percent of the U.S. population in 2017. The API culture has also contributed to the notion of Open Bank Project, where banks can outlet their data in a secure way, inviting the developer community to build functional and innovative banking apps for smartphones. Take for instance, check deposit apps; these allow consumers to deposit checks through their smartphones, the only remaining transaction that required a bank visit, in an otherwise digital banking paradigm.On a totally different note, for `digital banks'--like Moven, Simple, and GoBank--that have eliminated branches and traditional payment modes, the world spins only around the `mobility' axis. The same holds true for Blockchain and other cryptocurrencies that have laid their wagers on operating only for mobile banking users. That said, to help banks deliver to the mobile-first consumer, Banking CIO Outlook has put together this special edition on Mobile Banking.Let us know your thoughts.Copyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.MAY-JUNE - 2017Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 MAY-JUNE - 2017, Volume 03 - 03 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT:510.722.8394MOBILE BANKING SPECIALEric Thomaseric@bankingciooutlook.comVisualizerAnil kumarManaging EditorJames RobertsonMobility: The New Mouthpiece for BankingJames RobertsonManaging Editor editor@bankingciooutlook.comAlex D'SouzaJustin SmithSarah FernandesEditorialCarolynn WaltersNiko AltonSyeda Tina Tabin *All Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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