Adoption of m-banking exceeds expectations

European mobile banking has more than doubled in the past 18 months, reports Sybase 365. The messaging services developer surveyed over 4,000 cell phone users worldwide and found that the mobile phone market has matured significantly in the last three years.

The company said that 30 per cent of mobile users currently used banking services on their mobile handsets compared to their previous prediction of 16 per cent, and 24 per cent access mobile banking on at least a weekly basis. The research found a changed market from that surveyed in 2007, with consumers showing a greatly increased appetite for mobile services.

The main findings, according to Sybase 365, indicated how mobile phones had evolved from being simple telephone communication devices to increasingly becoming life management tools, entertainment systems and virtual wallets. Article