A few days ago, I posted a question to many friends asking if mobile applications mattered in offering best of class financial services. The comments back from many of my colleagues was “sort of”, “not sure yet”, “we think so”, “not yet – but big future” and many similar comments.
To help answer this question, you only need to look at the KPMG report on mobile adoption. According to the report which surveyed 5,627 respondents in 22 countries showed that 46% of consumers have used mobile applications to conduct banking transactions and 28% to buy consumer goods compared with 19% and 10% in 2009, respectively.
China is a leader in adoption with 77% of the population using mobile for banking services compared with the United States that only has about 19%. Across the board most countries increased adoption of mobile devices for banking substantially, with many countries increasing usage by more than 50%.
With the continued adoption of smart phones and the increased need to maintain ubiquity across platforms, it is only plausible that mobile capital investment will increase with many larger financial conglomerates buying their way into the market.
Recent Comments