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Mobile banking use expected to rise
17 April 2008
The number of people using their mobile phones to transfer money or check their balance is expected to rise.
Figures suggest that if current trends continue, the number of consumers accessing banking services and products via their mobile phones will rise to 816 million by 2011.
A report from Juniper Research says that an increasing number of banks and building societies are providing mobile-phone users with products and information via their phones.
Globally, the number of mobile banking transactions is predicted to increase from 2.7 billion in 2007 to 37 billion by in three years' time.
Increasing customer confidence in the security measures which are being taken by financial institutions and mobile phone firms is said to be one factor driving the trend.
Meanwhile, a survey carried out by comScore reveals that 25 per cent those with online banking are coming round to the idea of using the web to contact customer services representatives. 
