M-banking “one of mobile’s biggest success stories”

VALUE ADDED SERVICES

-
Image: By BiztechAfrica
M-banking “one of mobile’s biggest success stories”

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."



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Mobile payments to rise 40% this year

A new report from Juniper Research has found that the value of global payments via mobile devices will reach around $507 billion this year, a rise of nearly 40% year-on-year. Read More

MTN, Bharti Airtel to launch international money transfer

MTN Group and Bharti Airtel have announced a cross-border remittance partnership for Ivory Coast and Burkina Faso.  Read More

Glo connects subscribers to millions of organisations through Directory Service

Millions of subscribers on the Glo Mobile network have been given a unique opportunity to access the addresses of millions of organisations in Nigeria as the leading telecommunication company has introduced the Glo Service Directory. Read More

Local search to push mobile search & discovery adspend to nearly $17bn by 2018

A new report from hi-tech analysts Juniper Research has revealed that by 2018, the total advertising spend on mobile search & discovery will reach $16.8 billion. Read More

Glo unveils games store for Nigerian mobile users

Globacom has introduced a unique Games Store for Nigerian mobile users, offering premium games for all types of mobile devices. Read More

130 million mobile video callers by 2018

While users of mobile video calling services such as Skype are forecast to increase to over 130 million users by 2018, question marks remain over the potential for mobile video calling to generate revenues, says a new report. Read More

MTN, Ecobank partner to improve access to mobile financial services

MTN Mobile Money users, who are also Ecobank customers in 12 African countries, will soon be able to withdraw cash from Ecobank ATMs.  Read More

Net1, Supa Pesa bring advance airtime to Malawi

SA-based Net1 Mobile Solutions and its long-time partner Supa Pesa, has expanded its Advance Airtime African footprint with the launch of TNM Airtime Credit service, Pasavute. Read More

10bn mobile contactless transactions by 2018

A new report from Juniper Research has found that the number of contactless transactions via mobile handsets will exceed 9.9 billion globally by 2018, up from just over 3 billion this year. Read More

Safaricom offers free Google

Safaricom now offers Google Free Zone, a new product  that allows Safaricom mobile users to access Google+, Gmail and Google Search without incurring data charges.  Read More

PRESS OFFICES

Sage ERP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN Business

FEATURED STORY

Kenyan bloggers get their act togetherKenyan bloggers get their act together

Bloggers seem to be gaining a formidable position in Kenya’s online media fraternity, reports Semaj Itosno.

IN DEPTH

E-waste threatens Ghana’s beachesE-waste threatens Ghana’s beaches

Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.

COMPANY NEWS

Further African expansion for Phoenix

Phoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East ...