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Mobey Forum claims m-banking momentum

28 October 2010  |  7890 views  |  0 Fingers on smartphone keypad

Mobey Forum, a bank-backed mobile financial services consortium, claims it is now representing over a quarter of the world's banking customers - 450 million people.

The forum, which has been running for 10 years, works with financial institutions, mobile network operators, handset manufacturers, payment processors and vendors, to promote open and secure technology standards.

With new members EDB Business Partner Norway, Garanti Bank and Luup recently signed up, the group says its members now represent around 25% of the global banking community.

The association attributes increasing membership enquiries to the market's growing desire to deliver mobile financial services.

This appears to be supported by several recent surveys. In August a global poll from vendor Sybase 365 found that nearly a third of mobile phone owners now use their handsets to access banking services.

Ron van Wezel, chairman, Mobey Forum, says: "Since our inception, Mobey Forum has created an environment that encourages debate, information sharing and produces best practice recommendations to assist the mobile and banking communities in bringing convenient and pioneering services to customers. As market trials gain momentum and business models are established, our role within this ecosystem has never been more vital."

Finextra's Elizabeth Lumley spoke to the Mobey Forum's Gerhard Romen at Sibos in Amsterdam:

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