From Niche Play to Mainstream Delivery Channel: US Mobile Banking Forecast

From Niche Play to Mainstream Delivery Channel: US Mobile Banking Forecast This published report, valued at $1750, can be downloaded for free compliments of VeriSign Messaging and Mobile Media.

TowerGroup Take-Aways

Adoption of mobile banking in the United States is increasing because a growing number of banks are offering mobile banking and the popularity of smart phones is rising.

  • TowerGroup predicts that, by 2013, more than 53 million people in the United States will be active users of mobile banking services, utilizing varying degrees of functionality across multiple modalities.

  • As economic concerns prompt consumers to more closely manage their finances, instant access to and control over financial information are emerging as key value drivers for mobile banking.

  • Mobile banking services will continue to evolve as banks harness the full potential of this self-service channel through smart integration that enables segmentation and personalization.

  • TowerGroup encourages banks to take a strategic view of mobile banking investments to leverage initial infrastructure as a springboard for broader mobile payments initiatives.

  • Surviving mobile banking vendors will forge the right distribution partnerships, pursue an intelligent integration strategy, and articulate a holistic view of mobile financial services.

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