Number of mobile banking users to exceed 1 billion by 2017, predicts Juniper

In 2013, that number is expected to be close to 600 million

The number of mobile banking users will exceed one billion by 2017, up from 590 million in 2013, predicts a new Juniper Research report.

Large banks are deploying two or more mobile banking offerings, such as messaging, mobile browsers and app-based services, noted the report, "Mobile Banking: Handset & Tablet Market Strategies 2013-2017."

"From the banks' perspective, the triple play platform is advantageous as it avoids them having to switch suppliers for different approaches, as well as maximizing client reach. While messaging remains highly popular and relevant in the financial sector, apps will be the dominant access mode in developed markets with banks reporting an increased number of visits per month on their mobile apps," commented report author Nitin Bhas.

The report also noted that banking customers highly value having access to banking information and making transactions on the move.

Mobile-based transactional banking will grow at similar rates to mobile-based banking information services, the report predicted.

In addition, the developed markets of the Far East, North America and Western Europe will have the highest penetration rates of mobile users in 2017, according to Juniper.

For more:
- see the Juniper Research release

Related Articles:
Spotlight: Insecure mobile operating systems pose corporate security risks, warns Coalfire
What IT has in store for Wells Fargo