"Key factors for financial institutions offering mobile banking are not solely commercial, such as reducing costs or generating revenue," said Matthew Talbot, vice president, mCommerce, Sybase 365. "Mobile banking provides unique opportunities for customer interaction and retention."
The report says that it appears that banks are responding to the lack of awareness felt by consumers, with 65 per cent of the banks who currently offer mobile services stating that marketing budgets and activities to raise awareness are part of their strategic plan for 2008.
The most common mobile banking services currently available to customers include balance on demand (offered by 87 per cent of banks with mobile banking services), transaction alerts (77 per cent), money transfers (74 per cent) and balance alerts (71 per cent).
Of those banks that offer such services, the top reasons for doing so are to improve the customer experience (87 per cent), to extend internet banking (81 per cent) and to achieve competitive advantage (71 per cent). |
