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Banks Fail to Wow With Online Banking… Except This One

Apparently, Moore's Law does not apply to online banking.

Moore's Law is an observation that the capabilities of computer hardware roughly double every two years. From the pixel density on your laptop screen to the processor speed in your smartphone, examples of Moore's Law are everywhere in today's digital world. Everywhere, that is, except for most online banking platforms.

It doesn't matter if the bank is a mega bank like Bank of America (NYSE: BAC  ) , a regional player like BB&T (NYSE: BBT  ) , or a third-party software provider like Jack Henry and Associates (NASDAQ: JKHY  ) , the capabilities and usability of online banking services are noticeably stuck in the mud. 

In the video below, Motley Fool contributor Jay Jenkins discusses the disappointing state of online banking functionality and how one non-traditional bank in particular is finding opportunity in other's weakness (hint: Capital One Financial (NYSE: COF  ) ).

Luckily for the banks, the Internet is rapidly evolving. The browser based world of online banking is being replaced by the mobile world of apps and smartphones. Truth be told, one company sits at the crossroads of smartphone technology as we know it, regardless of the industry. It's not your typical household name either. In fact, you've probably never even heard of it! But it stands to reap massive profits NO MATTER WHO ultimately wins the smartphone war. To find out what it is, click here to access the "One Stock You Must Buy Before the iPhone-Android War Escalates Any Further..."

Read/Post Comments (5) | Recommend This Article (4)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On July 14, 2013, at 10:48 AM, sabebrush6 wrote:

    The reason banks are stuck in the mud is they are too busy trying to gouge out every penny they can from the customer and not have to put a dime into updating their own systems. It's all about greed on the banks part. Plus ---- nobody trusts them now.

  • Report this Comment On July 14, 2013, at 1:33 PM, VegasSmitty wrote:

    Banks are kinda like The Motley Fool, same old crap, day after day.

  • Report this Comment On July 14, 2013, at 4:01 PM, rocsoe wrote:

    Right: the brick and mortar business model will be a declining platform, but security issues with portable devices will limit its rate of integration - a reasonable tradeoff with convenience as evidenced by Russia's big purchase of typewriters for their spy staff.

  • Report this Comment On July 14, 2013, at 10:14 PM, Rusty56 wrote:

    Do people really watch this stuff?

  • Report this Comment On January 13, 2014, at 7:50 PM, duzer5 wrote:

    I found one, INBK online only from Indianapolis, IN. I thought it had a lot of upside potential as it only has less than 3M shares. $22 and pays a divie of 1.1%, while you wait. Looked at BOFI, too. But my pick was INBK "First Internet Bankcorp". Now I need to open an account there when my Brick and Mortar checks run out in a couple of months! LOL Does have liquidity problem with ask/bid because of the low shares, but long term it isn't a problem for me. I think online banking is the future of banking. Less overhead will allow for better interest for savers and maybe lower interest for buyers! LOLA

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