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Blackberry Mobility Featured Article

June 23, 2010

Report:Juniper Research Predicts Increase in Popularity of Mobile Banking

By Mini Swamy, TMCnet Contributor

Juniper Research offers market intelligence, analysis and research in the form of analyst reports, subscription databases and consultancy services.
In an in depth study conducted by it, Juniper Research (News - Alert) has found that mobile banking has become more popular with mobile subscribers.

According to a study, the number of mobile users using mobile banking was expected to exceed 400 million globally by the year 2013.
The results of Juniper's detailed Mobile Banking Technology Strategies Survey showed that banks were increasing services by using SMS and relying more and more on Web apps to provide additional channel choices for their customers.
Report author Howard Wilcox explained:the phenomenon and said that the survey indicated that banks in all regions were becoming increasingly innovative in their service offerings, in an effort to accelerate user growth. So much so that Mobile was becoming a 'must have' channel for banks.
However, the Juniper report also indicated that some banks were actually limiting their options, while other banks had yet to deploy mobile services.
Banks in Europe, North America, and the Far East appeared to be way ahead, as they were proactively delivering and promoting their services through marketing campaigns.
Other findings in the report revealed that over 80 percent of banks currently offered some form of mobile banking, and the demand for certain enquirers related to the user's personal bank account could actually fuel SMS messaging growth. The report also predicted that by the year 2015, the Far East and China would have the highest number of users.
For the report, a survey of 77 banks, across all regions, was conducted. Insights from the unique Global Mobile Banking Vendor Positioning Matrix of some 21 vendors were also included. The report also provided forecasts of user take-up, user-level messaging traffic, and user-level transaction volumes. In addition, it also took into consideration gross transaction values for Mobile Banking Information Services, and Transactional Services.
The Mobile Banking Whitepaper and further details of the study, Mobile Banking Strategies, Applications, Opportunities & Markets 2010-2015' can be downloaded from the website.

Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Alice Straight

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