Financial institutions today can and should use mobile information delivery to enhance the credit/debit card experience and reduce fraud. Not only does this differentiate your payments cards, it readies your customers for the eventual convergence of the mobile device and payments card. (Jupiter research)  

The empirical survey of the customer acceptance conducted under the ambit of this study detected a large-scale customer interest in Mobile Banking. The customer interest and the willingness to pay however varied for individual services and target groups. For instance, over 92% of all survey participants were willing to remit money and conduct transactions via mobile phones. Nearly 60% of survey participants were even willing to pay an extra fee in order to utilize mobile remittance facilities. On the other hand, services perceived to be complicated, and thus requiring expert opinion, received a relatively poor response, e.g. the option of subscribing insurance policies via mobile devices was rejected by almost two-thirds of the participants. According to authors such responses underscore the necessity to design products in strict adherence to the needs and wishes of relevant target customer groups. Mobile Banking seems to have reached a stage to transcend from being a technology-driven product into a business-focused customer service.

The study comes to the conclusion that Mobile Banking presents a sizeable opportunity for banks to retain their existing, technology-savvy customer base by offering value-added, innovative services and to attract new customers from corresponding sections of the society. The customer survey provides evidence that such sections in the meanwhile include the affluent and financially relevant groups of the society. Time seems to be ripe to convert this non-negligible customer interest into business-driving customer demand. A proactive attitude on the part of the banks seems to be therefore recommendable. Many banks in Germany and indeed across the world have already come to regard Mobile Banking as a necessary tool for thwarting negative differentiation vis-à-vis rivals and to foster/retain an innovative image. This self-reinforcing dynamism is expected to gain currency in the near-future so that Mobile Banking services could soon advance to a standard product – on the lines of Online Banking – offered by more or less each and every bank.

According to the World Retail Banking Report from Capgemini, Mobile Banking is one of the big changes to hit the Financial Services Industry. One of the ways banks will try to keep customers loyal is by reaching out to them through previously untried channels, such as Mobile Banking. This means a greater intimacy with the customer - something hard for banks to do at the same time as consolidation hits the retail banking sector, with many big players becoming global entities. The report is based on information from 180 banks in 25 countries and looks at how banks' business models will be changed by retail banking pricing strategies. (Silicon.com Financial services)