Over the past six months almost half (47%) of consumers in the world has controlled the balance of their bank account or a transaction using a mobile device: 42% of them paid at least one bill.
Impressive figures, collected – along with others – from the survey “Nielsen Mobile Shopping, Banking and Payment Survey” of more than 30 thousand users of 63 countries.
The adoption of mobile banking on a global scale seems to have finally caught on: within six months, 53% of global consumers will be checking the account balance and 46% making a payment of a bill.
Money transfer seems a less frequent but still far more than one consumer out of three (36%), a figure set to rise (42%) in the next six months.
A novelty introduced recently (deposit a check using the camera of your smartphone) has already become a favorite of 10% of the sample, and will be 18% in six months.
So: which are the countries with the highest rate of adoption?
“The high values in some developing countries, such as India, Mexico, Indonesia and Venezuala, are due to users who live in rural areas far from the cities, that access to mobile without having to physically visit a bank branch, and those who send money instantly to those who financially depend on them“, he said in a PR statement Stuart Tagg, Financial Services Leader, Nielsen Europe. “In China the use of credit cards never took off, and many even have never been in a bank, for which financial institutions are pushing a lot on mobile money services. Sweden finally is a special case of mature market far ahead of others in the mobile banking and transactions on smartphones, thanks to high rates of diffusion of smartphones and cooperation between the banks and the State in the definition of BankID, a digital security system used both for financial markets and for the interaction between government and citizens. “
Among the Millennials (ie twenties and thirties) the predisposition to use the Mobile Banking is more than double compared to Baby Boomers (aged 50 to 70 years of age), and the Silent Generation (seventy).
74% of respondents appreciate the freedom of being connected wherever you are: consumer habits are really changing and “on the go” use is more and more common.
The percentage of respondents who use only mobile banking is highest in large developing countries: India (46%), Indonesia (37%), Mexico (34%) and Turkey (34%).
Fears for the safety of their data and transactions are the first barrier to the use of mobile banking (53% of respondents), followed by the preference for physical branch (31%) and by the service futility perception (28%).
In terms of safety, it is necessary to tie Mobile Banking Platforms to Alert services and monitoring.
Ubiquity handles both Premium Alert, paid for the end user, and Bulk Alert, free for the user who receives the message. In both cases, the services are provided through secure connections with the telephone operators or other international partners.
For Push Notification, the offered service means centralization and transparency with regards to the various providers with fallback mechanisms and routing of SMS.
For field service E-Mail the platform provides in particular the management of transactional events as well as marketing campaigns.
Among the various use cases of particular success of our platform we include the management of Alert messages, the One Time Password system and PIN codes sent via SMS.