Abstract
New research from Mercator Advisory Group examines key influencers and
market drivers in this rapidly evolving market
Boston, MA November 13, 2012 In new research, 2012 Mobile Banking
Market Assessment, Mercator Advisory Group explores how retail financial
institutions can increase interaction with customers and members to include
24x7, anytime anywhere service, and also expand their reach beyond simple
demand deposit account transactions.
"In this report, we review the burgeoning mobile banking market and evaluate
key trends and market drivers that are contributing to its impressive and
staggering growth. Mobile banking adoption has accelerated at unprecedented
rates, rivaling the speed-to-adoption of such consumer "must have" products as
telephones, dishwashers, automobiles, and color TVs," comments Ed O'Brien,
director of Mercator Advisory Group's Banking Channels Advisory Service and
author of the report.
Highlights of this report include:
- The factors contributing to the phenomenal growth of mobile banking
- The impact of increasing mobile consumer usage to the market, new
opportunities for customer engagement, and new benefits for financial
institutions
- Three key areas of change in customer behavior that are being driven by
mobile banking
- The three modes of mobile banking and the circumstances when each is most
appropriate for use
- The reasons not all consumers are comfortable with using mobile devices
for banking
- The new advances opening the door to additional features and capabilities
to further grow the mobile banking channel
One of 15 exhibits in this report:
This report is 25 pages long and has 15 exhibits.
Organizations mentioned in this report include: Apple, ACI Worldwide,
Euronet, FFIEC, FIS, Fiserv, Google, Harland Financial Services, and mFoundry.
Members of Mercator Advisory Group's Banking Channels Advisory Service
have access to this report as well as the upcoming research for the year
ahead, presentations, analyst access and other membership benefits.
Table of Contents
Executive Summary
Introduction
Advancements in Mobility Spurring Mobile Banking Growth
- A Minirevolution in Banking Is Under Way
- Use of Mobile Devices to Access the Internet Is Growing
- Mobile Device Ownership
- Accessing Mobile Banking
- Much of Market Is Composed of White-Label Arrangements
- Mobile Remote Deposit Capture Is Gaining Traction
- The Rapid Pace of Innovation in Mobile Banking
The Mobile Banking Market
- Market Growth
- Mobile Banking Market Size and Revenues: Heading Toward a Billion Dollar
Market
- Customers Are Using Mobile Banking for an Increasing Variety of
Transactions
- Mobile Banking Use Is Prevalent Among Young Users and Affluent Users
- Most U.S. Consumers Do Not Yet Use Mobile Banking Products
- Security Is a Concern for Mobile Banking Customers
Other Key Considerations
- Security and FFIEC Guidance
- Mobile Phone Modes and Security
- Content Creation and Presentment
Key Mobile Banking Vendors and Products
- ACI
- Euronet
- FIS Mobile Banking
- Fiserv Mobiliti
- Harland Financial Services
- mFoundry
Conclusions and Strategic Implications
2012 Mobile Banking Market Assessment published by Mercator Advisory Group, Inc. in November 20, 2012. This report consists of 25 Pages and the price starts from US $ 2950.
