2013-01-15 13:07:58 - New Financial Services market report from Datamonitor: "Mobile Banking: Sizing the Global Market Opportunity"

The rapid rise of mobile banking offers providers an opportunity to improve relationships with customers and differentiate themselves from competitors. However, mobile adoption varies significantly across country markets. The report explores the market opportunity in countries with advanced, intermediate, or slow mobile banking adoption.

Scope

* Assess market opportunities and potential growth through Datamonitor's 2013 forecasts.
* Discover the top opportunities for mobile banking with consumer data from key global markets.
* Identify consumer demands from mobile banking by learning what activities consumers conduct through this channel.
* Boost mobile banking use by understanding core consumer objections.

Report Highlights

In all countries, with the exception of France, consumers consider mobile banking to

have grown in importance over the last 12 months. 53% of current account holders globally view mobile banking facilities as essential to their account choice, up by more than 10% since 2011. Providers must act to meet this sharp increase in consumer demand.


Full Report Details at
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The use of mobile banking apps is forecast to grow in all markets in 2013. Rising smartphone penetration and consumers stating their intention to get a banking app are fueling this growth. Growth in the use of banking apps is important because apps offer consumers the best experience for banking through the mobile channel.

Reasons to Get this Report

* How big are the mobile banking and banking app markets in key countries globally?
* By how much will usage of mobile banking apps grow in 2013?
* What are the benefits of creating a targeted mobile banking strategy?
* What differentiates markets with high levels of mobile adoption from those with intermediate or low adoption?
* What are the drivers of, and barriers to, mobile banking adoption?

Partial Table of Contents:

OVERVIEW
* Catalyst
* Summary
* Methodology

SIZING THE MARKET OPPORTUNITY
* Introducing the opportunity

* What is mobile banking?
* Datamonitor's mobile banking segmentation model explained
* The popularity of smartphones has made mobile the fastest ever growing banking channel
* Consumers increasingly view mobile as an essential channel
* The provision of mobile banking services is rapidly advancing
* A targeted mobile strategy can bring a number of key benefits to providers

* Mobile will encourage greater engagement between banks and their customers

* Mobile banking will reach a wider audience than online banking
* Non-digital channels will be freed up for more value-added activities
* Banks will need to deal with fraud quickly and effectively to reduce brand damage
* Soft benefits to bank brands are real if less tangible benefits of mobile banking

* The shift to mobile will allow banks to cut their operating costs...

* ...but only to a certain extent
* Mobile will allow consumers extra options for dealing with their providers
* Banking apps can provide banks with concrete benefits at all stages of mobile evolution
* Banks can directly track the return from a banking app on both sides of the balance sheet

* Mobile has become another differentiator between providers' offerings

* Mobile banking gives access to previously unreachable customers
* Time pressures on consumers increase the appeal of the mobile channel
* Mobile has the potential to overtake the online channel in banking

* Small screens create a new challenge for marketers, which must optimize content for this channel

* Mobile allows consumers to react quickly
* Mobile users are a captive audience
* Location-sensitive information offers additional depth to the mobile channel

MAXIMIZING THE OPPORTUNITIES
* Globally, countries represent three stages of mobile adoption

* A sharp increase in consumer demand for mobile banking facilities means that providers must act

* App use will see significant growth in 2013
* The advanced markets show high mobile banking adoption and high app use

* After a late start smartphones are booming in South Korea
* China's aspirational consumers have been quick to adopt mobile banking

* China has the most the mobile banking customers globally

* The use of mobile apps will grow by 85% in 2013 in China
* The Chinese market has jumped from branch to mobile
* Mobile users in China are more affluent than the average consumer
* The biggest players in China are already offering mobile services
* China's busy consumers want to integrate banking into their everyday activities
* Greater interaction with the mobile channel will strengthen consumer engagement
* Security is a big concern for non-users of apps

* South Korea has seen rapid adoption of mobile banking

* The growth in mobile banking apps in South Korea will continue to be rapid
* The use of apps is shaping the customer experience in South Korea
* Mobile appeals to the mainstream in South Korea
*

Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=531073&dt=t

About Datamonitor

The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Datamonitor's market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment. View more research from Datamonitor at www.fastmr.com/catalog/publishers.aspx?pubid=1002

About Fast Market Research

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