25 May 2017
register for the webinar

Smartphones to drive European m-banking take-up - Forrester

27 April 2010  |  9689 views  |  0 iphone apps on screen

European BlackBerry and iPhone users are nearly three times more likely to use mobile banking services than the owners of other handsets, according to research from Forrester.

The survey of 14000 people in France, Germany, Italy, the Netherlands, Spain, Sweden and the UK shows that mobile banking is still relatively little-used, with application-based systems particularly unpopular.

Just one per cent of European Net users with a mobile phone use banking applications, although this is partly because so few financial institutions offer customers the option. Mobile Internet systems are slightly more popular, with four per cent visiting bank Web sites through handsets. However, SMS-based systems continue to dominate, with 10% of European online mobile phone users signing up for one-way text message alerts from their banks.

Mobile banking is still mainly used by Europeans to check account balances and recent transactions, with far fewer using it to transfer money, and pay bills.

Of those that do not use mobile banking, 40% say they see no value in it and a quarter think they can wait to access their accounts through the phone, Web or ATMs. Over a fifth don't believe it is safe, 16% do not know if their bank offers the service and 11% say they do not have the right technology on their mobile phone.

However, despite the relatively low take-up numbers, Forrester says banks should update their strategies in preparation of a surge in popularity as Europe sees increased smartphone adoption, all-you-can-eat data plans, and more compelling content.

Alexander Hesse, analyst, Forrester, says: "Banks need to decide whether they want to be a mobile banking leader or a follower. Banks like la Caixa and Rabobank have deliberately decided to invest in state-of-the-art mobile banking services. Although this requires them to make substantial investments, it generates a lot of marketing attention and helps these banks position themselves as innovation leaders."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

M-banking finding favour with consumers

M-banking finding favour with consumers

24 March 2010  |  7602 views  |  0 comments
Gartner takes a swipe at Citi mobile trial data

Gartner takes a swipe at Citi mobile trial data

18 March 2010  |  11824 views  |  1 comments
China Mobile eyes m-payments with bank stake

China Mobile eyes m-payments with bank stake

04 March 2010  |  9219 views  |  0 comments
Forrester forecasts tech spending rebound

Forrester forecasts tech spending rebound

12 January 2010  |  5661 views  |  0 comments
US mobile finance approaches tipping point - research

US mobile finance approaches tipping point - research

03 December 2009  |  9044 views  |  0 comments
Americans interested in mobile commerce - survey

Americans interested in mobile commerce - survey

02 December 2009  |  8271 views  |  0 comments
Cgap examines the future of mobile banking

Cgap examines the future of mobile banking

20 November 2009  |  9929 views  |  1 comments
M-banking services should target offline customers - survey

M-banking services should target offline customers - survey

07 October 2009  |  10087 views  |  2 comments
M-banking users to hit 900 million by 2014 - study

M-banking users to hit 900 million by 2014 - study

13 March 2009  |  8865 views  |  0 comments
Online banking gaining ground in financial crisis - Forrester

Online banking gaining ground in financial crisis - Forrester

12 February 2009  |  9944 views  |  0 comments
Mobile banking numbers to hit 150m by 2011 - report

Mobile banking numbers to hit 150m by 2011 - report

14 January 2009  |  7625 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comvisit vasco.com/news/PSD2-compliant-solutionsVisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9447 views comments | 22 tweets | 31 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
9332 views comments | 28 tweets | 28 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
9061 views comments | 21 tweets | 24 linkedin
BBVA launches Open API marketplaceBBVA launches Open API marketplace
8948 views comments | 43 tweets | 64 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6831 views comments | 11 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job