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
