8 facts why mobile banking could take off this time

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Eight facts why mobile banking could work

This time

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Mobile uptake is huge and growing

And outstrips the use of desktops

Mobile is everywhere

1.1 billion internet users vs. 3.3 billon mobile users

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

The new generation of phones allow the customer to do more

There is clearly appetite for mobile applications – and banks are starting to recognise this

iPhone App. store downloads top 10 million in first weekend

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Google and a desktop is not the definition of the Internet anymore

The primary access point to the Internet will change for many people

The mobile phone will be the primary internet connection in 2020

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Mobile Internet bundles are becoming more popular

Vodafone: Data revenue continued to show strong growth, driven primarily by higher penetration of consumer mobile broadband and mobile internet bundles

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Wi-Fi access will be everywhere

Bars, restaurants and cafes, hotels and leisure places, public transport, public places…

In 2008 Wi-Fi hot spots in London grew 72%. In Paris, they grew by 543%.

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SMS is ubiquitous and offers huge potential

Between consumers the average number of text messages sent in 2008 is up 107% year on year

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Mobile commerce is increasing

Customers will start to associate payments, commerce and banking with a mobile phone

iPhone apps turn handsets into credit card terminals

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

It makes sense for younger generations

21% of 18 to 34 year old consumers use their mobile phones for mobile banking transactions compared to about 10% of the general population (US)

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

And lastly, some things we have seen in the last year…

In 2008, 10% of people in the UK received an SMS from a financial services institution. We estimate this will double in 2009.

Financial services institutions globally have made significant changes to public site content in an attempt to push mobile banking services in 2008

Mobile payments have dominated the mobile financial services news in 2008

© Mapa | www.mapa-uk.com | gregor@mapa-uk.com

Thanks for tuning in

Sources:

ReutersThe Apple StorePew / InternetNielsonVodafoneFinextraOpinion Research Corporation Various SlideShare presentations!And of course Mapa Research

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