Global volume of SMS text messages for mobile banking is expected to triple in the next five years, according to Juniper Research.
New types of mobile banking alerts will help drive that number to nearly 90 billion per year by 2015, up from about 30 billion per year now, according to Howard Wilcox, author of a new white paper for the think firm based in Hampton in the United Kingdom.
Wilcox said that volume is based on one message every two days per mobile banking user and that his firm's survey of 77 banks around the world led him to conclude that "there is considerable scope for banks to offer new messaging based services on top of basic balance alerts."
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That includes speeding up communications during applications for mortgages and other loans, Wilcox said.
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