Startlingly huge numbers stud the new research report on mobile banking just issued by Juniper Research and the biggest is this: one-half billion will be using mobile banking by 2013, per the researcher’s analysis.
A key is that financial institutions enjoy cost effective benefits in deploying mobile banking solutions, said Juniper.
Juniper predicts that globally there will be 530 million mobile banking users by 2013. That is a sharp jump from some 300 million in 2011.
Per Juniper, “The developed markets of North America, Western Europe and the Far East and China will have the highest penetration of users in 2016.”
In a statement, report author Sonia Lalli said: "Mobile banking will be one of the greatest success stories of the mobile commerce industry over the next five years, as consumers observe the benefits of accessing banking services on the move. As customers become comfortable with undertaking basic banking functions on their mobiles, an increasing number will adopt transactional-based banking enabled by the enhanced functionality afforded by smart devices, exposed to an all-immersive consumer experience."
Although the report noted the fast spread of high-powered smartphones and tablet computers – such as iPhones and iPads – it observed, “the most successful deployments adopt a triple-play solution utilizing not only apps, but SMS and browser-based delivery channels.”