Mobile banking text messages 'will triple' within five years

Emerging types of SMS mobile banking alerts will treble the volume of mobile banking messages to almost 90 billion a year by 2015 – or one message every 48 hours per mobile banking user.

The ‘Mobile Banking: Strategies, Applications and Markets 2010-2015’ by Juniper Research indicates that there is considerable scope for banks to offer new messaging-based services on top of basic balance alerts. Banks are seeking to exploit these new process alerts to speed-up customer communications during applications for products such as loans and mortgages.

“Messaging is a ‘win-win’ for banks,” said report author senior analyst Howard Wilcox. “They can improve customer service significantly, while simultaneously eliminating the cost of servicing customer enquiries placed with call centres.”

The report features the Juniper Mobile Banking Technology Strategies Survey of 77 banks across all regions which determined the popularity of SMS, mobile browser, smartphone apps including iPhone and Android and other apps such as Java.

The ‘Mobile Banking’ report also found that:

  • Over 80 per cent of banks offer some form of mobile banking.
  • Western Europe will be the region with the highest penetration of users in 2015.
  • Transactional mobile banking usage will see similar growth rates to SMS.

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