More Mobile than Banking

Finance leaders across the US will meet to discuss Mobile Banking Growth

Mobile companies are now jumping on the Finance bandwagon, Nokia have just announced the launch of a mobile financial service which they plan to roll out next year. The growth potential of Mobile banking has not yet been harnessed by the banking community, and it is the mobile providers who have made the first move. The opportunities available to the financial industry are to be discussed at the upcoming FST US Summit (hosted by GDS International).

Some of the key points to be raised will focus on Understanding the U.S. wireless ecosystem, Finding the reality of mobile internet, Defining business opportunities, Comparing technology options and managing security complexity while utilizing mobile services to expand on consumer satisfaction.

“Wireless and mobile services are changing the way people live and work impacting the service model of every industry across the globe. The financial industry is no exception. On the other hand, opportunities around the mobile internet often remain undigested despite its popularity in the media.” Ben Riggle - Summit Director
Recent data has also shown that the majority of existing mobile banking users have accessed their information via Mobile browsers as opposed to a using a specific application and a massive 67.8% of US Smartphone users are regularly using mobile banking. However there is a generalized belief that Mobile Banking is not secure and leaders in the finance sector must work with the consumer to build a platform that works for both the industry and the consumer and a trust between the two.

Mobile and financial services offer huge growth, with over 4billion mobile phone users globally but only 1.6 billion bank accounts emerging markets will create fantastic potential which is already seeing interest from industry leaders such as the Bank of America - Ron Tagle, SVP, Capital Group Companies - Julie St. John, CIO, JPMorgan Chase - Michael Sztejnberg, MD Enterprise Technology and Morgan Stanley - Jim Rosenthal, MD who have all confirmed to attend the FST Summit in Florida next month.

It is now up to the finance sector to recognize the consumer calling for mobile services and begin the chase of those mobile providers already exploiting the growth potential of mobile banking.