Tablets Are Cool, But They Can’t Do Everything

American Banker recently reported that while tablets are a promising technology for financial institutions, very few banks offer tablet banking to their customers. With the significant growth in the tablet market, banks and credit unions will likely see a demand for more tablet solutions in the next few years. Despite tablet’s short time on the market, the iPad was the first to debut in 2010, Forrester said that over 10 million tablets were sold in 2010, and they expect that number to double to more than 24 million in 2011.

Steve Cocheo, executive editor of the ABA Banking Journal, agrees that tablets will be an important part of the financial services sector over the next few years and notes, “Go to any community banker meeting nowadays and you will see for yourself: The iPad has become the executive tool of choice.” Turning to a lighter tone, Steve noted that while tablets, such as the iPad, are seen as the hip, new technology, they can’t do everything a magazine of newspaper can. Here are a few things you can’t do with your iPad:

  • Try rolling one up and swatting a fly. Expensive and ineffective.
  • You’re on a deserted island with two matches, an iPad, and no dry tinder. Good luck getting a fire started. (Got an app for that?)
  • Try leaving an anonymous ransom note with an iPad. They’ll track you down from a satellite. Cut out letters from five newspapers and they’ll never figure out where you sent it from.

You can read Steve’s complete list here.

Does your FI offer tablet banking to your customers and members? Let us know in the comments section below, or Tweet @bankingdotcom.

Written by Staff