M-banking “one of mobile’s biggest success stories”
VALUE ADDED SERVICES| 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
Safaricom launches M-PESA mobile financial journalSafaricom has announced the launch of M-Ledger, an Android based application that provides subscribers on the company’s network with a simple and easy to use financial journal to track and monitor their M-PESA transactions. Read More
Airtel, Access Bank strike Access Money dealAccess Bank Plc has collaborated one of Nigeria’s leading telcos, Airtel to develop and launch a new mobile money service. Read More
Microsoft, Opera Software to extend Opera Mobile Store to more Nokia phonesOpera Mobile Store will replace Nokia Store as the default app store for Nokia feature phones, Symbian and Nokia X smartphones, following an agreement between Opera Software and Microsoft. Read More
Mobile transaction users to hit 2bn by 2017A new report from Juniper Research has found that just over 2 billion mobile phone or tablet users will make some form of mobile commerce transaction by the end of 2017, up from 1.6 billion this year. Read More
Zero-rating key to customer acquisition - Airtel AfricaMaking OTT services such as Facebook and WhatsApp available for free on mobile networks - or so-called “zero-rating” - is a key part of customer acquisition, according to Willie Ellis, head of products and innovation at Airtel Africa. Read More
Airtel to offer insurance cover for iPhone 6 and iPhone 6 PlusAirtel has announced that it will offer a 2-year insurance cover to its customers who purchase iPhone 6 and iPhone 6 Plus in any of its designated outlets in Kenya. Read More
EcoCash-Western Union link upThe Western Union Company, a leader in global payment services, and Zimbabwe’s leading mobile money service provider, Econet Wireless, have teamed up to offer consumers fast and reliable international money transfers. Read More
Mobile money services must innovate to be sustainable - TigoMobile money services must continually be innovating if they are to make their business sustainable in the long-run, according to Diego Gutierrez, general manager of Tigo Tanzania. Read More
Mobile money operators must take holistic approach – panelCompanies launching mobile money services were urged by panelists at AfricaCom in Cape Town to approach the market strategically and holistically if they are to be sustainable. Read More
FEATURED STORYGSMA: half a billion mobile subscribers in SSA by 2020
The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSLeading through volatility in Africa
For the businesses that are prepared to face the storm and manage the volatility afflicting the continent, there are still huge rewards to be had from doing business ...