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February 10, 2010

Mobile banking rises in popularity

by Richard Kilner

Story link: Mobile banking rises in popularity

The first Consumer Briefing reports for the UK, French and German markets was launched by the Mobile Marketing Association (MMA) and its research partner Lightspeed Research today.

The Briefing reveals that mobile banking is utilised by 14% of Britons, and 9% of French and Germans, with projections of an increase between 3-11 points, with the UK continuing to lead the way.

SMS is the most popular form of accessing online banking, with mobile internet in second place.

Approximately a third of consumers in each country was interested in being able to view their account balance via their mobile phone, with ATM and branch locaters also of interest.

Unsurprisingly, younger consumers were most engaged with mobile banking, with 24% of the the 18-34 age band using mobile banking in the UK, (20% in Germany and 9.5% in France).

The French in particular were concerned by security, four out of five citing this as the most important issue, and around three in five Britons and Germans feel the same way.

MMA Market Intelligence VP Dr. Peter A. Johnson explained that the major economies of Europe had great potential to expand into the area of mobile banking.

In January of this year, Barclays enhanced its mobile banking facilities to permit its customers to make payments to third parties.

Last November the Kenya Commercial Bank won the Banking Innovation Award for its mobile banking service, KCB Connect, launched two months earlier.

 

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