09 December 2016
Visit aciworldwide.com

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

05 October 2011  |  8235 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  |  17152 views  |  2 comments
Isis signs handset makers to NFC m-payments system

Isis signs handset makers to NFC m-payments system

27 September 2011  |  8302 views  |  1 comments
Google launches mobile wallet

Google launches mobile wallet

19 September 2011  |  17068 views  |  1 comments
Global m-payments volumes set for rapid rise

Global m-payments volumes set for rapid rise

14 September 2011  |  12792 views  |  1 comments
Americans trust Visa over Apple for m-payments

Americans trust Visa over Apple for m-payments

10 August 2011  |  12880 views  |  0 comments
US m-banking uptake stalls over security fears - Javelin

US m-banking uptake stalls over security fears - Javelin

22 July 2011  |  8630 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  |  9597 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  |  10200 views  |  2 comments

Related company news

 

Related company information

Fiserv, Inc.

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out morehttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8255 views comments | 38 tweets | 31 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7899 views 12 comments | 15 tweets | 27 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
7877 views comments | 36 tweets | 47 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6723 views comments | 20 tweets | 23 linkedin
PSD2 will transform the payments landscapePSD2 will transform the payments landscape
6659 views comments | 23 tweets | 13 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job