This white paper is an extract from Juniper Research's report "Mobile banking for developed and developing markets strategies & business models 2012 - 2016."
Despite the challenging economic climate and threat of further global recession, the report finds that mobile banking users worldwide will reach 530 million by 2013, up from just over 300 million in 2011.
Indeed, mobile services are becoming a fundamental component of banks’ business strategies as they respond to the current financial crisis.
Other key findings from the report include:
- MNOs and banks have a mutually beneficial opportunity to collaborate to improve customer acquisition and retention, whilst reducing operational costs;
- Transactional mBanking usage will reflect similarly aggressive growth rates to SMS with over 550 million subscribers worldwide by the end of 2016;
- The developed markets of North America, Western Europe and the Far East & China will have the highest penetration of users in 2016.