Ask Anthony Genovese, a vice president at payments company Compass Plus in St. Louis, to assess the current state of mobile banking apps and his verdict is bluntly unenthusiastic.
"There's a lot of 'me-too' apps," said Genovese, who spoke in connection with the release of a new Compass Plus white paper, "Mobile Banking: One Size Doesn't Fit All." (A free download is here.)
"I do not see very many truly empowering apps. Financial institutions are not signing up new customers because of their mobile apps," said Genovese.
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