28 August 2016
Find out more

Mobile services no longer just a 'nice-to-have' for banks - Javelin

05 October 2011  |  8130 views  |  0 Wells Fargo M-banking

Mobile banking is no longer just a 'nice-to-have' channel for financial services firms, it has become a 'must-have', used by nearly a third of Americans, according to Javelin Strategy & Research.

In a report based on surveys of more than 10,000 people and interviews with executives at six financial institutions, Javelin says that after two years of flat growth, consumer mobile banking jumped from 19% to 30% in 2011.

This rise has mirrored increased numbers of banks offering mobile services and the growth in popularity of smartphones. Meanwhile, the triple play - mobile banking via text, browser, and downloadable apps - is emerging as the new norm, with four out of five vendors now offering it.

Security continues to be the main concern holding adoption back, with almost half of consumers citing it as the main reason they do not use mobile banking.

Out of 15 vendors ranked by Javelin, Fiserv have been awarded 'best in class' with FIS and Sybase also scoring highly and mFoundry winning the 'Path to Mobility' award.

Mary Monahan, research director, mobile, Javelin, says: "Mobile banking, once considered a 'nice-to-have', is now a 'must-have' for FIs who want to stay competitive and meet growing consumer demand for this channel."

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

Visa Europe unveils mobile P2P payments and alert services

Visa Europe unveils mobile P2P payments and alert services

28 September 2011  |  17009 views  |  2 comments
Isis signs handset makers to NFC m-payments system

Isis signs handset makers to NFC m-payments system

27 September 2011  |  8187 views  |  1 comments
Google launches mobile wallet

Google launches mobile wallet

19 September 2011  |  16931 views  |  1 comments
Global m-payments volumes set for rapid rise

Global m-payments volumes set for rapid rise

14 September 2011  |  12689 views  |  1 comments
Americans trust Visa over Apple for m-payments

Americans trust Visa over Apple for m-payments

10 August 2011  |  12785 views  |  0 comments
US m-banking uptake stalls over security fears - Javelin

US m-banking uptake stalls over security fears - Javelin

22 July 2011  |  8548 views  |  0 comments
US m-banking take-up jumps 129% in two years

US m-banking take-up jumps 129% in two years

20 October 2010  |  9519 views  |  0 comments
M-banking taken up by 30% of mobile users - survey

M-banking taken up by 30% of mobile users - survey

06 August 2010  |  10117 views  |  2 comments

Related company news

 

Related company information

Fiserv, Inc.

Related blogs

Create a blog about this story (membership required)
Visit equens.comVisit capgemini.comVisit VocaLink.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
8004 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7687 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6678 views comments | 17 tweets | 21 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6136 views comments | 14 tweets | 14 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
6095 views comments | 16 tweets | 18 linkedin

Featured job

Find your next job