With the fast paced world, both money and time are becoming increasingly scarce. People seek platforms which are user-friendly and time-saving for conducting their transactions. In response to this, the banks and financial institutions have evolved and innovated newer platforms such as m-banking considering the convenience of the people.
Mobile banking has been a revolution in the banking and payments industry. The high penetration of mobile phone and the growing acceptance has played an instrumental role in the growth of the market in the last decade.
TechNavio's analysts forecast the Global Mobile Banking market to grow at a CAGR of 22.47 percent over the period 2012-2016. Mobile phones have become an integral part of people’s life. Most of their behavioral aspects and needs can be mapped with the help of their mobile related activities.
Source: TechNavio Analysis
Key questions answered in this report:
What will the market size be in 2016 and what will be the growth rate?
What are key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by key vendors?
What are the strengths and weaknesses of each of these key vendors?
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01. Executive Summary 1
02. Introduction 2
03. Bright Future Ahead 3
04. Different M-banking Channels 4
04.1 Banking via SMS 5
04.2 USSD Service 5
04.3 IVR (Interactive Voice Response) 6
04.4 Browser or WAP Service 7
05. The Americas and Europe Were the Early Adopters 9
06. What Interests People: Paucity of Time is the Growing Concern for People 12
07. What is in it for Banks: Reduction in Infrastructure Costs for Banks 13
08. Lack of Demand Has Been One of the Hiccups for Banks 14
08.1 Lack of demand 14
08.2 Security issues 14
08.3 Connectivity issues 15
08.4 Handset operability 16
08.5 Regulatory issues 16
09. Regulatory and Trade Associations Involved 18
10. Leading Players 20
11. Other Reports in this Series 21
Exhibit 1: Global M-Banking Market 2012-2016 (millions) 3
Exhibit 2: M-Banking Channel Partners 4
Exhibit 3: Mobile Platforms Adopted by Service Providers 2012 7
Exhibit 4: Developed versus Developing Markets 2012 9
Exhibit 5: Developed Markets 2012 10
Exhibit 6: Developing Markets 2012 10
Exhibit 7: Top 10 Countries with High Mobile Penetration 2013 12
Exhibit 8: Exhibit 8: Security concerns is one of the major hiccups 15
Exhibit 9: Lack of Demand Stands Out for Non-adoption of M-banking 17