Soaring Mobile Banking Numbers
The number of US customers using mobile banking services is set to jump over the next five years, rising from 1.1 million in 2007 to more than 40 million by 2012, according to forecasts from TowerGroup. According to the research, customers that already use Internet banking services will be most likely to adopt the new technology, with up to 30% taking up mobile banking over the next five years. However m-banking is also expected to appeal to people who are unwilling to use the Internet to manage their accounts. The report suggests that there will be huge marketing investments by top banks to increase consumer awareness and trial, says TowerGroup, and will coincide with a growing desire for real-time, self-service transactions amongst customers. More at Finextra.