Mobile Banking Services – 5 Trends and 5 Insights around the world
Mobile Banking Services, or Bank on-the-go if you prefer, is getting so strong in some countries and with some segments of population like the Millenniums that Banks must now act quickly to understand its trends and become key players to profit from it.
One of the key factor of Mobile Banking Services growth is the high penetration level of Smartphones in Western countries where 50% of owners have been using a mobile banking application. All major Banks in North America have deployed or developed Mobile Banking Services in recent years which a large part of their Clientele is using.
In countries where a large proportion of the people is unbanked, cellular phones are being used as a commercial vector of all sorts!
“Banking is essential, not Banks,” famously said Bill Gates, CEO of Microsoft, in 1994.