Last updated on April 18, 2014 at 12:28 EDT

Mobile Banking Crosses the 300 Million Users Mark Worldwide as Financial Institutions Seek to Capture Developing Markets

September 17, 2012

FARMINGTON, Conn., Sept. 17, 2012 /PRNewswire-iReach/ — “Business case or not, financial institutions broadly know that mobile is no longer optional,” says a recent article in ABA Banking Journal. Mobile networks now cover between 85-90% of the world’s population. The number of mobile phones in use around the world in 2011 reached six billion while the number of mobile banking users worldwide reached 300 million with adoption of the service in developed countries growing significantly.

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Global Information Inc (GII) is pleased to present just three of the more than 40,000 market research reports, forecasts, and studies we have available to help companies, investors, regulators, and marketers reliably forecast, strategize, and plan their business in this increasingly valuable sector. Want to learn more? Contact us today for a one-on-one conversation about what market research can do for you in this fast-moving, turbulent market.

The Business Case for Mobile Banking

Mobile banking has changed traditional methods of banking and its usage has improved not only in developed countries, but also in developing countries as well. Banks and mobile carriers are moving towards more sophisticated techniques of marketing as a result of security and user-friendly concerns. In order to enhance their marketing, banks and mobile carriers are using IT technology for ensuring security and user friendliness. Mobile banking is not only used for basic transactions of online banking, such as checking balances, viewing recent transactions, paying bills and transferring funds but also for marketing of the various products and services offered by banks.

The new report provides detailed analysis of global mobile banking services with special emphasis on emerging market opportunities and provides in-depth analysis of the challenges faced by the mobile banking system.

Mobile Banking and Payments

Mobile financial service adoption by consumers will grow significantly during the next few years, exceeding the use of online banking by 2015. By offering mobile financial services, banks can reasonably expect to increase their sales by as much as 60%, while research has shown that implementation of such technology can reduce the cost of acquiring a new customer by 20% due to increased effectiveness of mobile-related customer acquisition marketing.

This report is for organizations and individuals who need to assess the prospects for mobile banking and payments; find out how additional revenue can be raised through value added services; review strategic and operational issues in the mobile banking sector; and study the profiles of leading banks within the mobile banking arena.

For an executive summary, to read a full table of contents, or to request a free sample of the full document, please visit http://www.giiresearch.com/report/time250444-mobile-banking-payments.html

Retail Banking Technology Asia Summit

October 15-16, 2012 | Singapore

Technology is becoming a key service differentiator in retail banks to satisfy their customers’ expectations. Is your IT strategy a part of your business or at its very heart of the organization? How will you best stretch your technology budget to seek revenue growth and differentiation for your retail bank? Are you investing in the right technology to meet the needs of your retail banking customers?

These are the questions that many senior decision makers in the industry are asking themselves, which is why IQPC have brought together leading banking practitioners at 4th Annual Retail Banking Technology Asia 2012 Summit, to answer these questions. This event will focus on how to utilize IT strategies to drive revenue opportunities, cost efficiencies, and to transform customer retail banking experience. Be sure to attend the only summit in Asia that focuses on retail banking technology.

For more information, please visit http://www.giiconference.com/iqpc234460-2012/

Register through GII at https://www.giiresearch.com/conference/en/order/234460

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Source: PR Newswire