Adoption of mobile banking in the United States is increasing because a growing number of banks are offering mobile banking and the popularity of smart phones is rising.
- TowerGroup predicts that, by 2013, more than 53 million people in the United States will be active users of mobile banking services, utilizing varying degrees of functionality across multiple modalities.
- As economic concerns prompt consumers to more closely manage their finances, instant access to and control over financial information are emerging as key value drivers for mobile banking.
- Mobile banking services will continue to evolve as banks harness the full potential of this self-service channel through smart integration that enables segmentation and personalization.
- TowerGroup encourages banks to take a strategic view of mobile banking investments to leverage initial infrastructure as a springboard for broader mobile payments initiatives.
- Surviving mobile banking vendors will forge the right distribution partnerships, pursue an intelligent integration strategy, and articulate a holistic view of mobile financial services.