Blog: Mobile Banking and the Growing Importance of GPS

Andrew Beatty FISAndrew Beatty, SVP and GM, Next Generation Banking at FIS, takes a look at the importance of GPS to the mobile banking industry in a recent blog series installment for Finextra.

“As the banking industry moves toward fully real-time solutions, with millisecond response times and immediate access to funds, precise time becomes vital, ” Beatty says in the blog. “As banks continue to pursue modernization of batch-based, memo-post core solutions – which tended to use the server time for transactional timestamps – those date and time stamps, as well as location stamps, become the most important pieces of data the solutions maintain with a transaction. GPS is globally available, can be checked from anywhere, and is free for everyone to use – including banks and their mobile banking solutions.”

Read more, and see additional blog posts by Beatty below.