Industry News

Americans want mobile financial services
2010-02-17
Banks are realizing that maintaining a presence in a variety of media is a key factor in determining how to prevent customer attrition. Analysis from mobile marketing research company Data Innovation shows that in spite of slow adoption for mobile retail, customers are eager to use more developed mobile banking.

DI's study surveyed 246 smart phone users, finding that nearly 70 percent of respondents used at least one mobile banking or payment service in the past three-month period. Unsurprisingly, most uses were for checking account balance views, with checking posted transactions coming in second. Mobile account alerts, intra-bank money transfers and mobile bill pay were also popular.

Additionally, banking was not the only service sought by smartphone users. Half of users checked credit card transactions and 40 percent engaged in mobile commerce.

Many banks have incorporated smartphone use into customer segmentation analysis, identifying and implementing the most popular and useful services.

Nearly two-thirds of survey respondents were interested in using a mobile wallet - a capability that can submit credit card numbers directly to a transaction terminal. This service is not yet available in the United States, though the New York Times has reported that it is increasingly popular in Japan and parts of Europe.ADNFCR-3091-ID-19621180-ADNFCR


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