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
Apollo Hospitals, Airtel seal telemedicine dealTwo Indian giants, Apollo Hospitals and Airtel Nigeria, have struck a deal designed to bring affordable health care to Nigerians and Airtel’s Premier customers. Read More
Millicom partners Deezer to bring Tigo Music to 5 African marketsTelecoms and media firm Millicom has announced an extension of its partnership with music streaming service Deezer to take its Tigo Music service to five markets in Africa. Read More
Airtel Money offers KRA mobile tax payment servicesBharti Airtel has partnered with the Kenya Revenue Authority (KRA) to offer Kenyan citizens an opportunity to pay their taxes through Airtel Money. Read More
Embracing mCommerceThere’s a word on the lips of everyone in the know these days, and that word is “mCommerce”, says Red & Yellow. Read More
Airtel Money launches new partnership with MOGASAirtel Uganda and MOGAS have officially unveiled their new partnership that allows customers to pay for any MOGAS products and services using Airtel Money at their 38 stations across Uganda. Read More
Econet launches Connected Car serviceEconet has launched yet another revolutionary product branded the Econet Connected Car. Read More
Tigo cash trains over 2,000 agentsAs part of efforts to scale up mobile financial services, particularly in the informal sector, mobile network operator, Tigo is training over 2,000 agents in its award-winning mobile money service, Tigo Cash. Read More
Airtel Money to launch cross border money transfer service across East AfricaBharti Airtel has announced plans to launch a cross border money transfer product in East Africa. This is a first in market initiative across Africa and will enable Airtel Money customers to send, receive and withdraw money from their Airtel Money wallets. Read More
MTN set to support money transfers between Rwanda and UgandaMTN Uganda is partnering with MTN Rwanda to deliver cross border transactions between the two countries. Read More
Former Kampala mayor demands UGX8bn from MTN UgandaMTN Uganda has found itself in protracted lawsuit involving copyrights on caller tunes in a case whose outcome could set a precedent for similar scenarios in future. Read More
FEATURED STORYGrowing African focus on data security
Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.
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 NEWSVMware reports third quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter ...