M-banking “one of mobile’s biggest success stories”
VALUE ADDED SERVICESBy BiztechAfrica - Feb. 4, 2012, 10:28 a.m.
Juniper Research expects the number of mobile banking users to top 530 million by next year.
In a new report, Juniper Research says the number of mobile banking users will grow from 300 million last year to 530 million by the end of 3013.
The report found that as banks migrate from traditional bricks-and-mortar approaches and seek competitive differentiation, m-banking offers an opportunity for all banks to improve operational efficiencies and customer retention and acquisition as a cost-effective communication channel.
Juniper observes that financial institutions are anticipating growing consumer demand by developing native smartphone and tablet applications for iPhones, iPads and Android devices. However, the report cautions that the most successful deployments adopt a triple-play solution utilising not only apps, but SMS and Browser-based delivery channels.
According to report author Sonia Lalli: "Mobile Banking will be one of the greatest success stories of the mobile commerce industry over the next five years, as consumers observe the benefits of accessing banking services on the move. As customers become comfortable with undertaking basic banking functions on their mobiles, an increasing number will adopt transactional-based banking enabled by the enhanced functionality afforded by smart devices, exposed to an all-immersive consumer experience."
MORE VALUE ADDED SERVICES NEWS
M-PESA launches online paymentsM-PESA aims to revolutionise e-commerce in Kenya with the launch of its online payment service. Read More
Airtel partners with DSTV MobileAirtel Kenya and DStv Mobile have entered into a partnership that will allow Airtel subscribers to access DSTV mobile through their mobile phone network using Drifta mobile decoder for Android. Read More
Mobile smart wearable device shipments to approach 130m by 2018New findings from leading hi-tech analysts, Juniper Research, indicate that smart wearable device shipments including smart watches and glasses will approach 130 million by 2018, 10 times higher than estimated this year. Read More
EcoCash to offer lendingEcoCashSave account holders will soon be able to also borrow money just like ordinary bank account holders. Read More
Apps, data changing mobileMobile voice revenue is declining fast, while data use is surging, driven by instant messaging and apps, say new reports on the state of mobility in South Africa. Read More
Airtel, Zanaco launch’Cultiv8’ accountAirtel Money and Zambia National Commercial Bank have partnered to launch a low cost account that is primarily accessed through Airtel Money. Read More
Airtel to launch Opera Web Pass in AfricaOpera Software and Airtel have announced the launch of Opera Web Pass for customers in 17 countries across Africa. Read More
Clickatell aims to be Nigeria’s largest PINless prepaid airtime providerClickatell says it aims to strengthen its position as a leading mobile enablement provider in Nigeria and be the largest PINless airtime provider by the end of the fiscal year. Read More
Why mobile money uptake is low in AfricaGlesecke and Devrient expert Wolfgang Decker says the absence of a global regulatory standard, trust and low awareness are among the challenges facing mobile money services in Africa. Read More
Kenyan agriculture platform supports smallholder farmersAn innovative social enterprise firm empowering smallholder farmers in the country has developed a mobile messaging application in a bid to stem the rising pressure on the few extension and field officers who link up with farmers in rural areas. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHCorporate cyber security threats of the year
91% of organisations polled suffered a cyber-attack at least once in the past year, says Kaspersky Lab in its security review of 2013.