25% of global population to use mobile banking services by 2019
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The number of mobile banking users globally is forecast to double to 1.8 billion, over 25 per cent of the world's population, in the next four years, according to research by KPMG using primary survey data supplied by UBS Evidence Lab.
The Global Mobile Banking Report, finds that while mobile is already the largest banking channel by volume of transactions, its adoption by new customers is now entering an exceptionally rapid phase. It also suggests that mobile banking and payment systems are increasingly being integrated with other technologies, driving an era of ‘Open Banking’.
The report warns that banks who do not have clear mobile banking strategies will lose customers and cross-sell opportunities in the short-term, as well as risk jeopardising competitive advantage.
