Mobile Banking Users to Exceed 150m Globally by 2011
The number of mobile phone subscribers that use their phones for mobile banking transactions will exceed 150m globally by 2011, according to a new study by Juniper Research. These figures refer to additive banking which is focused on developed markets rather than transformational banking.Additive banking in this context adds further choices or distribution channels for banks to serve their customers or make the banking experience more convenient for existing customers.
The Juniper Research report determined that the mobile banking market is currently most advanced in the Far East, but that growing numbers of mobile banking services are being offered in North America and Western Europe. The developed nations of the Far East, North America and Western Europe are forecast to account for over 70% of the user base by 2011.