mobile-measurement

Over 1 Billion Mobile Subscribers Will Use Mobile Banking in Next 4 Years

  |  January 11, 2013   |  Comments

By 2017, over 15 percent of mobile subscribers will use a smartphone or tablet for online banking, according to Juniper Research.

Over one billion cellular subscribers will use mobile online banking within four years, according to a new study by Juniper Research.

Juniper's new report, "Mobile Banking: Handset & Tablet Market Strategies 2013-2017," finds that the larger banks are starting to release two or more mobile banking offerings. According to Juniper Research, consumers are using the platforms because they enjoy having the ability to perform banking transactions on-the-go.

The study found that the majority of banks offer at least one mobile banking option. The three major mobile banking platforms offered include SMS messaging, mobile browser-based transactions, and individual apps for consumers.

According to Juniper Research, by using all three platforms together banks can reach the highest number of clients. Juniper Research Senior Analyst Nitin Bhas said that using a variety of platforms gives banks improved future flexibility and client reach.

"From the banks' perspective the triple play platform is advantageous as it avoids them having to switch suppliers for different approaches as well as maximizing client reach," said Bhas.

"While messaging remains highly popular and relevant in the financial sector, apps will be the dominant access mode in developed markets with banks reporting an increased number of visits per month on their mobile apps."

The study discovered that consumers are specifically using mobile banking apps in growing numbers. According to Juniper, consumers use mobile banking platforms for their ability to perform transactions anywhere and anytime.

Juniper Research says that one of the most common uses of mobile banking platforms is to check banking information. However, the company expects mobile transactions, like app-enabled check deposits, will continue to grow over the next four years.

By 2017 Juniper Research expects the highest market penetration for mobile online banking to happen in developed markets. The report specifically points out China, North America, and Western Europe as territories to watch going forward.

For its study Juniper Research held interviews and profiled major players in the mobile and banking industries. The report includes profiles of companies like Accenture, Bank of America, and SAP Mobile Services.

Mobile image on home page via Shutterstock.

ClickZ Live New York What's New for 2015?
You spoke, we listened! ClickZ Live New York (Mar 30-Apr 1) is back with a brand new streamlined agenda. Don't miss the latest digital marketing tips, tricks and tools that will make you re-think your strategy and revolutionize your marketing campaigns. Super Saver Rates are available now. Register today!

ABOUT THE AUTHOR

James is a freelance writer and editor. In addition to ClickZ, his work has appeared in publications like V3, The Commonwealth Club, CachedTech.com, and Shonen Jump magazine. He studied Journalism at Weber State University.

COMMENTSCommenting policy

comments powered by Disqus

ClickZ Stats delivers stats headlines to your inbox twice a week. Subscribe today!

COMMENTS

UPCOMING EVENTS

UPCOMING TRAINING

Featured White Papers

Google My Business Listings Demystified

Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.

5 Ways to Personalize Beyond the Subject Line

5 Ways to Personalize Beyond the Subject Line
82 percent of shoppers say they would buy more items from a brand if the emails they sent were more personalized. This white paper offer five tactics that will personalize your email beyond the subject line and drive real business growth.

WEBINARS

Resources

Jobs

    • Customer Service Consultant
      Customer Service Consultant (Bonner and Partners) - Delray BeachBonner & Partners: Full-time Customer Service Consultant Position Who we are...
    • Financial Editor
      Financial Editor (Confidential) - DurhamSIX FIGURE EDITORS WANTED: To enforce lofty NEW editing standards. Easy Conditions Unlikely. Promotion and...
    • Information Processing Specialist
      Information Processing Specialist (Agora Inc. ) - BaltimoreInformation Processing Specialist – The IP specialist position ensures the successful...