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Mobile Banking Revolution

THE MOBILE BANKING REVOLUTION By 2017, an estimated one billion people will use mobile banking , and it has already become a way of life for many of us. However, there is often a gap between what mobile services customers want and what their banks offer. Getting it right can drive big benefits for both bank and customer. DEMAND FOR MOBILE An estimated 20.4% of people 1 bank via their mobile too, compared to 9.7% in 2010 on) 20.4% 58% 1 IN 3 67% bank via mobile (uK) would like to use mobile banking (UK/Us) 16-35 year olds already bank using their mobile (UK/Us) of UK banks predict that all of their customers will be using some form of mobile banking by 2017 (UK) COMMUNICATION ISSUES 72% of mobile users believe mobile banking is insecure due to privacy and fraud concerns (UK) ... 45% 62% 38% experience banking communication problems (uK//us) believe the biggest comms problems are tech related (UK/us) of US banking executives see mobile banking as a priority (Us) CUSTOMER WISHLIST IN THE US ZIN THE UK 48% 46% 38% 52% 32% 31% would like mobile banking tailored to their shopping habits and location would like improved transaction and connection security would like faster connection speeds want a wider variety of online services want more mobile apps want more personalised services MOBILE BANKING SUCCESSES IMPROVED CUSTOMER SERVICE DECREASE IN FRAUD 8 58% reduction in misdirected inbound calls 30% of alerts confirmed as fraud within 10 min increase in customers reaching 39%0 collections case manager on first call Customer contacted within 30 sec of suspicious transaction 50% cut in bank losses from reaching customer faster 35% cut in overall bank fraud losses 75% can self-serve and make a payment 97% satisfied with the service they receive Data based on results achleved by compories using FICO solutions. Sources TNS Global | FICO Market Survey 2012 | Forrester Research | Metaforic Mobile Marketing Association & Sybase 365 | Avanade | © 2013 Fair Isaac Corporation. Al rights reserved. FICO

Mobile Banking Revolution

shared by Catalysis on Mar 11
Who’s leading the mobile banking revolution? Consumers. They’re pushing for banks to do more with the mobile channel — and they’re rewarding banks that answer the call by paying overdue debts ...




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