Report: Mobile banking users to exceed 1B in 2017

More than 1 billion mobile phone users will have used their phones for mobile banking by the end of 2017, compared to just over 590 million this year, according to a new report from Juniper Research. The report notes that while the forecast of 1 billion users by 2017 represents over 15 per cent of the mobile subscriber base, it should be acknowledged that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services. Many consumers are already seeing the benefits of accessing banking services on their mobile phones, Juniper said, and noted that mobile banking technology is proven and currently available in most regions of the world, and has remained popular in developing regions especially. Release

Suggested Articles

Moving subscribers to 5G networks will help carriers manage network traffic, but they can't do it until customers buy 5G-ready smartphones.

The adoption of consumer eSIM services/devices remains low, despite major hype.

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.