1 billion mobile bankers by 2015-end: Juniper

MUMBAI, INDIA: Mobile banking which has seen a phenomenal rise over the last few years, will see a further whopping increase by end of 2015.

According to a new research by Juniper, the number of mobile bankers will be more than 1 billion by the 2015 end. The figure will double in the next five years, the networking company said.

Additionally, around 19 percent of global household bills will be paid via PC, tablet and mobile devices this year. Juniper said that that global online banking users as a proportion of banked individuals is forecast to cross the 50 percent mark in 2016.

“Mobile bankers will reach 2 billion by 2020, representing 37 percent of the global adult population–driven by adoption in emerging markets,” said Nitin Bhas, Head, Juniper Research.

While most consumers – especially in developed markets – prefer digital banking and virtual channels, a significant proportion still favor an in-branch, face-to-face meeting compared with an audio or video call with a customer contact center, he noted.

However, Bhas pointed out that more banks are moving toward a mobile first approach. “This trend is likely to accelerate given the scale of physical branch closures in some markets.”

For instance, UBS and Deutsche Bank are exploring the mobile first model to use technology to create a common standard for securities and assets trading.