Almost a third of consumers are banking on their mobile

Research from mobile messaging service Sybase 365, shows that demand for mobile internet and banking services has exceeded expert expectations, with almost 50% accessing the internet on their phone and almost a third of consumers are banking on their mobile.

Thirty percent of mobile users currently use banking services on their mobile handset, compared to the 16% prediction, and 24% access mobile banking on at least a weekly basis. The research finds a changed market from that surveyed in 2007, with consumers showing a greatly increased appetite for mobile services.

The main findings show how mobile phones have evolved from being simple communication devices to increasingly becoming life management tools, entertainment systems and virtual wallets.

Almost half of all mobile users use their handset to access the internet (48%) on a weekly basis, and 30%, globally, use mobile banking services.

Banking on the move

• European mobile banking has more than doubled in the past 18 months
• Globally, the most used services include checking their accounts (88%) and receiving transaction updates (54%).  Fifty-six percent paid a bill or card payment via their mobile phone
• 35% of mobile bankers will pay for more sophisticated services, whilst 44% would consider swapping banks for free mobile banking

Global comparisons

When comparing the regions, the Asian appetite for new services leads the way globally and users are more engaged with their mobiles than respondents in other countries.  Twenty percent more Asian respondents are interested in additional services than the global average, and approximately 30% more Asian than European respondents are interested in mobile community updates (50% to 18%) and mobile banking (54% to 26%).

European, Middle East, and African users show huge engagement with their mobiles and are using technologically advanced features.  Forty percent access the internet via their mobile on a weekly basis, and almost the same number send or receive email from their phone.  They also show a great interest in new services, with at least a third willing to pay for each service.

Thirty nine percent of users in the Americas like to deal with finances on the go.  They are engaging with their mobiles and are willing to pay for content.  They do, however, show lower than average interest in the idea of mobile banking (39% against the world average of 44%).

For further information regarding the Sybase 365 Global Consumer Acceptance and Usage report or to download a free copy of the studies quoted above, visitwww.sybase.com/365.