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Mobile Banking: State of the Market and Future Opportunities
Mind Commerce LLC, Nov 2011, Pages: 37
Mobile banking began in the US and other developed markets as a means of providing customers access to account information in innovative, cost-cutting ways. Banks matched the development of mobile phone technology and carrier networks by allowing customers to conduct remote transactions on their mobile phone such as fund transfer and bill payments.
Despite their relative silence in the mobile payments dialogue, Western banks are using mobile banking applications to influence consumer behavior and methodically secure their position as the consumers' preferred processor of mobile payment transactions.
This research evaluates developments in mobile banking, beginning with analysis of motivations and market drivers, and examination of bank's multichannel strategies. It includes an evaluation of the most popular US mobile banking applications. It also includes predictions of the future of mobile banking and the realization of mobile payments' potential.
Audience:
- Mobile network operators
- M-Banking Application Developers
- Mobile Commerce Application Suppliers
- Infrastructure suppliers and service providers
Keywords: Mobile Commerce, M-commerce, NFC, RFID, Near-field Communications, Radio Frequency Identification, Mobile Payments, Person-to-Person Payments, Wireless Commerce, Mobile Wallet
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