17 October 2017

Lack of awareness stalling m-banking take-up

23 April 2014  |  10099 views  |  0 Mobile banking on smartphone

A lack of customer awareness could be hindering uptake of mobile banking services around the world, a new survey from BuzzCity suggests.

Of 6000 people quizzed across 20 countries by the mobile advertising network, 26% do not know whether their bank offers mobile services and 29% think that they do not.

Yet BuzzCity says that this betrays an ignorance among respondents and that the vast majority - 90% - of major banks it has examined offer some form of mobile service, whether SMS-, Web- or app-based.

There is similar confusion when it comes to handsets, with 31% of respondents convinced that they cannot carry out banking on their phones and 27% unsure despite the fact that some form of banking can take place on any device.

People who do know about and use mobile banking tend to like it, with 31% of respondents saying that they find it easy to use and useful - up five per cent on last year.

There is, however, apathy amongst potential users, with a third of those surveyed simply not feeling that they "need" mobile banking.

Last year 34% of respondents said that security fears prevented them from using mobile banking but concerns seems to be subsiding, with just 19% saying the same this year.

"Anxieties will persist, but this apparent indifference among users many may yet be the biggest hurdle to overcome" for adoption, says BuzzCity's KF Lai.

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

UK mobile banking transactions double in one year

UK mobile banking transactions double in one year

31 March 2014  |  17543 views  |  1 comments | 32 tweets | 23 linkedin
RBI bids to boost Indian m-banking take-up

RBI bids to boost Indian m-banking take-up

13 February 2014  |  6019 views  |  2 comments | 5 tweets | 7 linkedin
Third of Americans use mobile banking - Pew

Third of Americans use mobile banking - Pew

12 August 2013  |  6226 views  |  0 comments | 15 tweets | 7 linkedin
Third of Europeans use mobile banking - ING survey

Third of Europeans use mobile banking - ING survey

02 July 2013  |  11644 views  |  0 comments | 12 tweets | 16 linkedin
US mobile banking adoption on the rise as range of services grows

US mobile banking adoption on the rise as range of services grows

30 November 2012  |  11375 views  |  0 comments | 28 tweets | 7 linkedin
Mobile banking: One channel to rule them all?

Mobile banking: One channel to rule them all?

19 July 2012  |  13804 views  |  8 comments

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.com visit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14964 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8225 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7654 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6949 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6191 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job