Most consumers are already using banking services via their phone... many already use mobile banking services

Which, if any, of the following banking services have you done on your mobile phone either on a website or using an app. or via SMS / text banking? Among smartphone owners.

Checkedbalance

Checkedstatement

Paida bill

Balancetransfer

Paidfriend / family

Overdraftalert

GermanyUK Spain

Meanwhile, mobile commerce continues to growPercentage who have bought something (that is not an app) through their smartphone

Financial institutions have a key role to playConsumers might be suspicious of bankers, but they still trust financial institutions:

0% 20% 40% 60% 80% 100%

GermanyUK Spain

PayPal

My bank

Credit card eg. Visa

Retail eg. Amazon

Network eg. Vodafone

Software eg. Google

Hardware eg. Apple

MOST TRUSTEDLEAST TRUSTED

Banks can leverage consumer trust and purchasing requirements...

The availability of banking services is important when purchasing.

...and build on existing services

Going beyond bankingSome may be surprised, but consumers are ready for financial institutions to expand their role…

M-commerce is a ready opportunity for financial institutionsMost consumers would be more confident in m-commerce if they could buy through a banking app.

UK Germany Spain

Many would feel valued if their bank offered information about products and services that they could purchase. (varying from 25% in Germany to 46% in Spain)

Source: Monitise/Future Foundation/nVision | Base: 500 online respondents per country who are aged 16+ and own a smartphone, 2013

0%

20%

40%

60%

80%

100%

Surprised, I hadn’t even considered that banks might be able to do anything other than deal with my money matters

Valued, I think banks should provide more information to customers

Concerned, I think financial institutions should not advise people about non-financial matters

Indifferent, it doesn’t matter to me as long as I get the best deal on any product/service I’m not interested in where it’s coming from

I have no strong opinion

GermanyUK Spain

I have no strong opinion

Indifferent, it doesn’t matter to me as long as I get the best deal

on any product/service I’m not interested in where it’s coming from

Concerned, I think financial institutions should not advise people

about non-financial matters

Valued, I think banks should provide more information to customers

Surprised, I hadn’t even considered that banks might be able to

do anything other than deal with my money matters

The key is to prioritise usability and provide the right incentivesEase of use and loyalty schemes emerge as important motivators in encouraging the use of a bank app.

GermanyUK Spain

Find out more about the Mobile Money opportunity at:

www.monitise.com/insights