The ‘Mobile Banking for Developed & Developing Markets’ report found that mobile phone banking is gaining considerable traction, thanks to the exploitation of advanced functionalities such as banks bundling MBPP (Mobile Bill Presentment and Payment) services within their overall mobile banking platform and additional momentum from easy-to-use smartphone apps.

Additionally, those users that do make bill payments are expected to continue conducting transactions actively and aggressively as they become more accustomed to usage. As consumers engage in increasingly mobile lifestyles, approximately 80% of total mobile banking customers will pay their bills via a mobile device by 2016.

According to Juniper’s Research Director Windsor Holden, ‘Customers are becoming increasingly more confident in using basic informational mBanking services. The natural progression is to engage in transactional banking, as they demand tighter control over their finances within a turbulent economic environment and busier lifestyle which are at odds with a 9 to 5 branch-based service.’

Malware Growth Heightens Consumer Concerns

However, the report cautioned that user security concerns, heightened by the rapid growth in spyware and malware, would act as a brake on adoption, particularly amongst older demographics. It argued that this situation would continue unless and until consumers are convinced that mobile device security is of the same grade as online security, if not better.

Other key findings from the report include:

Triple-play solutions (i.e. SMS, Web browser, and app) experience the highest adoption rates.

Transaction frequency will be higher in developing regions where users do not have many alternative options for bill payment, given the limited physical branch infrastructure.

Increased usage of transactional services will provide impetus to integrating other elements of mobile commerce.

The whitepaper ‘Banking Anytime Anywhere’ is available to download from the Juniper website together with further details of the full report.

Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

For further details please contact Jess Hanslip, Press Relations

T: +44(0)1256 830001

E: jess.hanslip@juniperresearch.com

Juniper Research was founded in 2001 by the Wireless Industry Consultant Tony Crabtree, in the midst of the telecoms and dot-com crash. The business was fully incorporated in February of 2002 and has since grown to become one of the leading analyst firms in the wireless sector.

Juniper specialises in identifying and appraising new high growth market sectors within the mobile ecosystem. Market sizing and forecasting are the cornerstones of our offering, together with competitive analysis, strategic assessment and business modelling.

We endeavour to provide independent and impartial analysis of both current and emerging opportunities via a team of dedicated specialists - very knowledgeable, experienced and experts in their field.

In terms of structure, Juniper is organised along five main streams:

Mobile Content & Applications

Mobile Commerce

Handsets & Devices

Mobile Markets & Strategies

Networks & Technologies

Each stream offers a blend of blogs, free whitepapers and paid-for research - normally in the form of research reports, strategic briefings and databases. Clients range from mobile operators and service providers through to content providers, vendors and financial institutions. Juniper's client base spans the globe, with the majority of its clients in North America, the Far East and Europe.