Banks will hold largely off on investing in mobile wallet technology this year, instead opting to focus their digital investment dollars on more traditional mobile banking functions, according to a survey from Cambridge-based Forrester Research commissioned by the Consumer Banking Association.
The 19 biggest retail banks plan to spend one-third of their digital budgets this year on banking through smart phones and tablets. Focus areas will include features such as customer alerts, remote deposits and person-to-person payments.
Bank executives surveyed said they find digital wallet applications promising, but are taking a “wait-and-see” approach to that technology in 2012.
Nearly one in six adults in the United States are active mobile bankers, the survey said.
