2013-01-16 16:05:18 - Fast Market Research recommends "Mobile Banking in the UK: Sizing the Market Opportunity" from Datamonitor, now available
The rapid growth and development in mobile banking is arguably the most important service-related trend in retail financial services at present. Mobile offers providers a huge opportunity not only to improve the quality of their relationships with their customers, but to differentiate themselves from their competitors.
* Discover how big the mobile banking market in the UK is, and how much it will grow in 2013.
* Understand how the UK marketed is segmented with respect to users and non-users of mobile banking.
* Learn what strategies will provide most effective in increasing levels of acquisition, loyalty, and profitability for each segment.
Full Report Details at
- www.fastmr.com/prod/531070_mobile_banking_in_the_uk_sizing_the_m ..
Nearly 10 million UK consumers currently use
mobile banking, and this is expected to grow by nearly half by the end of 2013. The mobile channel will allow banks to develop deeper relationships with their customers. There will be a positive impact on customer acquisition and loyalty, as well as increase opportunities for revenue generation.
Innovators, those who use mobile banking every day, are a profitable but demanding segment. They are the happiest to use paid-for services, but are least loyal of all consumers. Banks should promote the time-saving qualities of mobile, allowing loan and overdraft arrangement via this channel, and allow full customization of mobile services.
Mainstreamers, non-users who are the most likely to take up mobile banking in the near future, are looking for simplicity and ease of use on mobile. They are the least likely to use one provider for all their products, so mobile can be used to provide integrated management of all holdings, increasing the incentive to keep to one provider.
Reasons to Get this Report
* How many UK consumers currently use mobile banking, and how many will do so in 12 months' time?
* What strategies can your organization employ to maximize the potential of the mobile channel?
* How can you use mobile to improve acquisition and loyalty rates, and boost revenues and profits?
Partial Table of Contents:
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 costsaEUR¦
* aEUR¦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 providersaEUR 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
MAXIMISING THE OPPORTUNITIES
* The present state of the UK mobile banking market
* 9.6 million UK consumers currently use mobile banking
* The UK mobile banking market is expected to grow by 47% in 2013
* Security fears are the number one priority for banks to address
* Providers must educate consumers on the role that mobile banking can play
* Current shape of the UK market
* The UK mobile banking market at a glance
* NatWest customers are currently the biggest users of mobile banking in the UK
* Most UK providers now offer basic mobile banking functionality across a range of access methods
* Providers must employ distinct mobile strategies for each segment
* Summary of key mobile strategies for each consumer segment
* Innovators are a profitable but demanding sector of the market
* Innovators: key findings and recommendations
* Innovators will be attracted by flexibility and information provision within mobile
* Publicizing the scope for the greater individualism afforded by mobile will attract this segment
* Providers can use mobile to inform innovators about investment and pension products
* Mobile is an ideal channel for distributing loan products to innovators
Full Table of Contents is available at:
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
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