Banks fail to exploit market for smartphone apps

Apple iPhone

Banks are failing to develop smartphone apps for the mobile market for handsets such as Apple's iPhone and Google's Android, leading to downloadable apps being developed externally, and  outside of the industry's control.

According to American Banker, one US user of the Android handset, Jeff Peiffer, has offered an app to  download for $2.50 to JP Morgan Chase retail customers. He is also updating the same basic app for online customers of PNC, BB&T and Huntington Bancshares, and is reportedly

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