According to IDC Financial Insights, mobile banking usage has almost doubled over the past year. However, it’s still far from reaching a mainstream channel according to the research company. Banks need to realize there are few to no revenue opportunities around mobile currently, but it’s a convenient feature for the end users. That could change with the wider adoption of mobile payments, though.
Among IDC’s key findings we highlight:
- Usage was up across all channels, requiring bankers to manage more transactions across an ever-expanding portfolio of delivery options.
- The financial services industry should leverage its branch network to compete against potential nontraditional entrants that lack the brick-and-mortar infrastructure.
- Unsurprisingly, SMS is the most popular form of mobile banking, requiring no special handsets to be used (i.e. smartphones).
- Customized alerts and payments outside of network are gaining in popularity. On the other hand, check image view and getting rate information on the mobile device appear to be fading.
- Demographics for mobile banking customers were skewed toward a younger male audience, but all demographics are showing usage.
And you can get additional information from IDC’s website.
[Via: CellularNews]