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2012 Mobile Banking Market Assessment

  • ID: 2318835
  • Report
  • November 2012
  • 25 Pages
  • Mercator Advisory Group
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New Research From Mercator Advisory Group Examines Key Influencers And Market Drivers In This Rapidly Evolving Market

In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions.

"In this report, we review the burgeoning mobile banking market and evaluate key trends and market drivers that are contributing to its impressive and staggering growth. Mobile banking adoption has accelerated at unprecedented rates, rivaling the speed-to-adoption of such consumer "must have" products as telephones, dishwashers, automobiles, and color TVs," comments Ed O'Brien, director of Mercator Advisory Group's Banking Channels Advisory Service and author of the report.

Highlights of this report include:

- The factors contributing to the phenomenal growth of mobile banking

- The impact of increasing mobile consumer usage to the market, new opportunities for customer engagement, and new benefits for financial institutions

- Three key areas of change in customer behavior that are being driven by mobile banking

- The three modes of mobile banking and the circumstances when each is most appropriate for use

- The reasons not all consumers are comfortable with using mobile devices for banking

- The new advances opening the door to additional features and capabilities to further grow the mobile banking channel
Note: Product cover images may vary from those shown
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Executive Summary


Advancements in Mobility Spurring Mobile Banking Growth
A Minirevolution in Banking Is Under Way
Use of Mobile Devices to Access the Internet Is Growing
Mobile Device Ownership
Accessing Mobile Banking
Much of Market Is Composed of White-Label Arrangements
Mobile Remote Deposit Capture Is Gaining Traction
The Rapid Pace of Innovation in Mobile Banking

The Mobile Banking Market
Market Growth
Mobile Banking Market Size and Revenues: Heading Toward a Billion Dollar Market
Customers Are Using Mobile Banking for an Increasing Variety of Transactions
Mobile Banking Use Is Prevalent Among Young Users and Affluent Users
Most U.S. Consumers Do Not Yet Use Mobile Banking Products
Security Is a Concern for Mobile Banking Customers

Other Key Considerations
Security and FFIEC Guidance
Mobile Phone Modes and Security
Content Creation and Presentment

Key Mobile Banking Vendors and Products
FIS Mobile Banking
Fiserv Mobiliti
Harland Financial Services

Conclusions and Strategic Implications
End Notes
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Organizations mentioned in this report include:

- Apple
- ACI Worldwide
- Euronet
- Fiserv
- Google
- Harland Financial Services
- mFoundry
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown