- Briefing Room
- Consumer Engagement
- Commerce 3.0
Research and Markets (http://www.researchandmarkets.com/research/6m86lq/mobile_banking) has announced the addition of the "Mobile Banking: Sizing the Global Market Opportunity" report to their offering.
The rapid rise of mobile banking offers providers an opportunity to improve relationships with customers and differentiate themselves from competitors. However, mobile adoption varies significantly across country markets. The report explores the market opportunity in countries with advanced, intermediate, or slow mobile banking adoption.
- Assess market opportunities and potential growth through Datamonitor's 2013 forecasts.
- Discover the top opportunities for mobile banking with consumer data from key global markets.
- Identify consumer demands from mobile banking by learning what activities consumers conduct through this channel.
- Boost mobile banking use by understanding core consumer objections.
- In all countries, with the exception of France, consumers consider mobile banking to have grown in importance over the last 12 months. 53% of current account holders globally view mobile banking facilities as essential to their account choice, up by more than 10% since 2011. Providers must act to meet this sharp increase in consumer demand.
- The use of mobile banking apps is forecast to grow in all markets in 2013. Rising smartphone penetration and consumers stating their intention to get a banking app are fueling this growth. Growth in the use of banking apps is important because apps offer consumers the best experience for banking through the mobile channel.
Reasons to Purchase
- How big are the mobile banking and banking app markets in key countries globally?
- By how much will usage of mobile banking apps grow in 2013?
- What are the benefits of creating a targeted mobile banking strategy?
- What differentiates markets with high levels of mobile adoption from those with intermediate or low adoption?
- What are the drivers of, and barriers to, mobile banking adoption?
Key Topics Covered:
SIZING THE MARKET OPPORTUNITY
- Introducing the opportunity - What is mobile banking?
- Datamonitor's mobile banking segmentation model explained
- The popularity of smartphones has made mobile the fastest ever growing banking channel
- Consumers increasingly view mobile as an essential channel
- The provision of mobile banking services is rapidly advancing
- A targeted mobile strategy can bring a number of key benefits to providers
- Mobile will encourage greater engagement between banks and their customers- Mobile banking will reach a wider audience than online banking
- Non-digital channels will be freed up for more value-added activities
- Banks will need to deal with fraud quickly and effectively to reduce brand damage
- Soft benefits to bank brands are real if less tangible benefits of mobile banking
- The shift to mobile will allow banks to cut their operating costs- but only to a certain extent
- Mobile will allow consumers extra options for dealing with their providers
- Banking apps can provide banks with concrete benefits at all stages of mobile evolution
- Banks can directly track the return from a banking app on both sides of the balance sheet
- Mobile has become another differentiator between providers' offerings- Mobile banking gives access to previously unreachable customers
- Time pressures on consumers increase the appeal of the mobile channel
- Mobile has the potential to overtake the online channel in banking
- Small screens create a new challenge for marketers, which must optimize content for this channel- Mobile allows consumers to react quickly
- Mobile users are a captive audience
- Location-sensitive information offers additional depth to the mobile channel
MAXIMIZING THE OPPORTUNITIES
- App use will see significant growth in 2013
- China's aspirational consumers have been quick to adopt mobile banking
- China has the most the mobile banking customers globally- The use of mobile apps will grow by 85% in 2013 in China
- The Chinese market has jumped from branch to mobile
- Mobile users in China are more affluent than the average consumer
- The biggest players in China are already offering mobile services
- China's busy consumers want to integrate banking into their everyday activities
- The use of apps is shaping the customer experience in South Korea
- Mobile appeals to the mainstream in South Korea
- South Korea's market leader offers apps for multiple operating systems
- South Korean mobile users are highly engaged with the mobile channel
- Location-based services will take off in South Korea
- Even technologically advanced consumers have concerns over security
- The intermediate countries need to refine their approach to mobile- Poland has the lowest use of banking apps globally
- Mobile has the potential to overtake online in Brazil
- The youth segment will grow the mobile channel in Poland
- Polish banks should be encouraging the use of mobile apps to improve the experience of this channel
- Increasing consumers' use of the mobile channel will strengthen engagement
- Low affinity with apps and a desire to spend time on finances is restricting the use of mobile banking
- Smartphone penetration is a limitation in Brazil- Mobile propositions need to be targeted at younger consumers
- Apps are available to customers but they are not being used extensively
- Mobile bankers in Brazil are more engaged with all banking channels
- A quarter of mobile users are conducting three core activities in Brazil
- Mobile appeals to more affluent consumers
- The availability of apps from leading providers offers a good basis for channel growth
- German consumers who do use mobile are engaged with this channel
- Providers need to demonstrate that mobile is both secure and has a use
- Growth in smartphone penetration is slow but will add new mobile app users
- App availability is affected by a dispersed current account market
- Security is less of an issue in the Italian market
For more information visit http://www.researchandmarkets.com/research/6m86lq/mobile_banking