Mobile Banking: Market Research Report

February 2010 | 411 pages | ID: MD82EF2AAE6EN
Global Industry Analysts, Inc

Abstracts

This report analyzes the worldwide markets for Mobile Banking in Millions (Number of Users).The report provides separate comprehensive analytics for US, Canada, Europe, Asia-Pacific, and Rest of World.

Annual forecasts are provided for each region for the period 2006 through 2015.

The report profiles 84 companies including many key and niche players worldwide such as Bank of America Corp., Barclays Bank Plc, BB & T Corp., Citibank N.A, JPMorgan Chase & Co., Lloyds TSB Bank Plc, The PNC Financial Services Group, Inc., Wells Fargo & Company, ClairMail, Inc, Firethorn Holdings, LLC, Fronde Anywhere Ltd., Fundamo (Pty) Ltd., Macalla Software Ltd., mFoundry, MI-PAY Ltd., Monitise plc, Monitise Americas, MShift, Inc., and Sybase Inc.

Market data and analytics are derived from primary and secondary research.

Company profiles are mostly extracted from URL research and reported select online sources.

Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITION

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study

II. EXECUTIVE SUMMARY

1.INDUSTRY OVERVIEW

Multi-Channel Banking – The New Mantra for Banking Sector
Comparative Analysis of Various E-Banking Channels
Mobile Financial Services Market – An Overview

Table 1. Mobile Phone Penetration in Select Countries (includes corresponding Graph/Chart)

Mobile Banking Market – An Overview
Growth of Mobile Banking Across Geographical Markets
Mobile Banking – At a Glance
Mobile Banking – Serving the Un-Banked
Current & Future Analysis
Factors Influencing Mobile Banking Market
Convenience
Reduced Transaction Costs
Factors Influencing Growth in the Mobile Banking
Market Restraints
Factors Restraining Market Growth

2.MARKET DYNAMICS

Expanding Mobile Banking Market – A Reflection of Changing Banking Patterns
Mobile Banking Opportunities for Various Market Participants
Mobile Banking – Potential Growth Opportunities
Integration of Mobile Phones & Self-Service Channels
Personalization & Customization
Location-Based Services & Loyalty
Recession Fosters Demand for Mobile Banking
Consumer Behavior and Usage Pattern of Mobile Banking Services
Mobile Internet & Advanced Technologies Propel Mobile Banking Market
Factors Driving Adoption of Advanced Mobile Banking Services
Growing Penetration of 3G and Smartphones

Table 2. % of 3G and Smartphone Customers Using Mobile Banking Services (2009): Breakdown for Web Browser, Client Application and SMS-Based Service (includes corresponding Graph/Chart)

Mobile Banking: Technology Perspective
Marketing Opportunities for Mobile Banking

3.PRODUCT OVERVIEW

Mobile Banking – A Conceptual Definition
Prerequisites for Availing Mobile Banking Services
Factors Influencing Banks’ Adoption of Mobile Banking Technology
Classification of Mobile Banking Services
Push & Pull Services
Transaction-Based and Enquiry-Based Services
Additive Banking
Transformational Banking
Delivery of Mobile Banking Services
Mobile Banking with SMS
Benefits and Drawbacks of SMS Banking
Mobile Banking with WAP
Mobile Web – Advantages & Disadvantages
Downloadable Application
Mobile Client Applications – Advantages & Disadvantages
SMS with Mobile Web (SMS with WAP Push)
SMS with Mobile Web – Benefits & Drawbacks
Secure SMS
Secure SMS – Benefits & Drawbacks
Mobile Banking Business Models
Bank-Led Model
Bank-Focused Model
Non-Bank-Led Model
Mobile Banking Services – An Overview

4.MOBILE BANKING – TECHNOLOGY COMPONENTS

Technology Components of Mobile Banking
Mobile Handset
Role of Advanced Handsets
Mobile Network Technologies
Description of Select Mobile Channel Technologies
Features of Mobile Channel Technologies

5.CHALLENGES FACING MOBILE BANKING MARKET

Security of Mobile Banking Services – A Major Concern
Potential Threats Faced by Mobile Banking Services
Security Provisions & Customers
Interoperability
Scalability & Reliability
Application Distribution
Network-Related Issues
Lack of Common Standards & Regulations
Customer Authentication
Other Challenges

6.PRODUCT/SERVICE INTRODUCTIONS

Petra and Caxton FX Release Touchstone Mobile
MMV and Citibank Release Citi Mobile Banking
Telcel Teams Up with Banamex to Introduce SMS-Mobile Banking
IFIC Bank Launches SMS Banking Service
Lloyds Launches On Demand Text Balance Service
Metavante, Monitise Introduce Text Message Banking Service
Rwandatel to Launch Mobile Banking Service
PSCU Launches Mobile Banking Service
EFICI Unveils EFICASH™
Zain to Launch Mobile Banking Service
Yes Bank to Launch ‘Pay Anyone’ Mobile Payment Solution
Citibank and Telkomsel Introduce Citi Mobile-Thin Client
Fifth Third Bank Unveils Mobile Banking Service
MTN to Introduce MTN MobileMoney
Citibank Launches Mobile Banking Service
Sun Microsystems and C-SAM Launch New Mobile Banking Solution
Commonwealth Bank Introduces Mobile Internet Banking Services
NBD Unveils MoBanking
Fiserv Unveils Mobile Money FastTrack
MCB Unveils MCB Mobile
Postbank Unveils Mobile Phone Banking Services
Prudential Bank Unveils SMS Banking and Website
Velcom and Priorbank to Introduce SMS- Banking Service
Bangkok Bank Launches Mobile Internet Banking Service
CO-OP Financial Services Launches Mobile Banking Solution
Housing Finance Bank to Launch Mobile Banking Service in Rural Uganda
Telesom Introduces Zad Mobile Banking in Somalia
mFoundry Upgrades mBanking Suite to Include SMS and WAP Modes
Emirates NBD to Collaborate with Etisalat for New Mobile Banking Service
Mobilink Introduces Mobile Banking Service in Alliance with Citibank
CCU Upgrades Online Banking Suite with Mobile Banking
Monitise Americas Unveils Mobile Money Functionality on App Store
CKI Launches Virtual Machine Mobile Banking Services in English
Dubai Bank Introduces Dubai Bank Mobile Service
Sybase 365 Rolls out Sybase® mBanking 365™
OCBC Bank Introduces Mobile Banking Service
Harland Launches Cavion Mobile Banking Professional
Barclays Bank Launches ‘Hello Money’ Mobile Banking Service
Fiserv Unveils Premier Mobile Banking Solution
SIB to Introduce Mobile Banking Services
Corporation Bank & RCom to Provide Mobile Banking Service
BOI to Launch Mobile Banking Solution
Bank Sohar Unveils SMS Banking Service
Bank of Ayudhya Unveils Krungsri SMS Banking Facility
Suncorp Unveils Browser-Powered Mobile Phone Banking
Bank of Sharjah and CR2 Unveil BankWorld Internet and Mobile
Kinzna Unveils Mobile Banking, ATM Services
SCB Unveils SCB Mobile Banking
Verizon and Firethorn Unveil Mobile Banking Solutions
Citibank and Indosat Introduces Mobile E-Banking Service
Fidelity Releases FIS Mobile Banking and Bill Pay
NAB Introduces SMS Banking Service
Banco De Bogota Unveils Mobile Banking Service
JSC Unveils Integrated Internet and Mobile Banking Platform
UBI to Introduce Mobile Banking
Banner Bank Introduces Mobile Banking Service
E-Trade Unveils Mobile Banking and Brokerage Service
BNB Unveils Mobile Banking Service
Huntington Unveils Mobile Banking Service
Wamu Releases Mobile Banking Service
IBC Bank Announces Bilingual Mobile Banking Application
Citibank to Launch Mobile Financial Services
Cpni Upgrades PATbank Mobile Banking Platform
Sprint Unveils MyMoneyManager
ANZ Vietnam Unveils Mobile Banking Service in Hanoi
CPNI Provides Upgraded Version of Mobile Banking Service
Standard Chartered Introduces New Mobile Banking Solution
ClairMail Announces ClairMail Mobile Banking Web System for iPhone
Telefonica to Provide m-Banking Services Across Latin America
SBI, BOI and UBI to Launch M-Banking
GCB to Launch Mobile Banking Services
RBC Introduces Mobile Banking Services
Lloyds TSB Introduces Mobile Phone Banking Services
Equity Bank Unveils Eazzy 24/7 Service
BoQ to Introduce BankLink Mobile
Bellco Credit Union Introduces Mobile Banking Services
mFoundry Introduces iPhone Mobile Banking Solution
ICICI Bank Unveils iMobile
Equity Bank Unveils Benki Yangu Mkononi Service
IND Group Launches New iMobile Banking
CFE Unveils New Mobile Banking Solution
Verizon Unveils Mobile Banking Services for Major Financial Institutions
Firethorn Upgrades Mobile Banking and Payments with New Functionalities
AT&T Offers Mobile Banking on iPhone in Partnership with Firethorn
Vodafone Launches Vodafone Internet On Your Mobile Service
VeriSign Enters Into an Alliance with Clairmail
China Mobile Introduces Financial Information Services
Satander Rio and Movistar Introduce Mobile Banking Solution
Salem Five Bank Launches Wireless Mobile Banking Solution
ING Direct Announces Mobile Banking Services
Yodlee Unveils Mobile Banking Solution
RBS Introduces Mobile Banking Capability
Garanti Bank Introduces Mobile Banking Services
IsBank Announces Mobile Banking Solution
NYCE to Launch Mobile Banking and Payment Services
Postilion Introduces New Postilion Mobile Solution
Indian Bank Launches Mobile Banking Service
Wells Fargo Introduces Mobile Text Banking
Bci Introduces Mobile Banking Solution
EverMobile Unveils Integrated M-Banking, M-Payment Application
Industrial Savings Bank Introduces Mobile Banking
Cardinal Bank Launches Free Mobile Banking Service
Banrisul Introduces Mobile Banking Service
Cingular Wireless to Launch Mobile Banking Service
RBS Introduces Mobile Banking in Yorkshire
Banco Frances Launches Mobile Banking Service
Online Resources Launches Mobile Banking and Bill Payment Service
Bank of America to Introduce Mobile Banking Service
USAA to Offer Firethorn Mobile Banking and Payments Solution to Customers
AT&T Launches Mobile Banking Application
BIBD and DST to Introduce SMS Banking

7.RECENT INDUSTRY ACTIVITY

Wells Fargo Merges with Wachovia
PSCU and FSCC to Provide Mobile Banking to Credit Unions
mFoundry Introduces Comprehensive Three Mode Mobile Banking Solution
Arvest and BancorpSouth Adopt Firethorn’s Mobile Banking Application
Fiserv and M-Com Collaborate to Develop Fiserv Mobile Money
Monilink Mobile Money Service Available on Smartphones
Monitise Forms Indian Subsidiary to Offer Services in India
Sybase Acquires paybox Solutions
Monitise Completes Acquisition of Monilink
Monitise Inks JV Agreement with Made in Africa
Monitise Partners with Paynet
Monitise Enters into an Alliance Agreement with Visa
Citibank Pakistan Enters into an Agreement with Mobilink
Sevenval Forges Mobile Banking Partnership with Wincor Nixdorf
VTFS Inks License Agreement with Security First Bank
ICICI, TTSL Form Alliance
Alliant Deploys mFoundry and PSCU Mobile Banking Solution
Veridian Deploys ClairMail Powers Mobile Banking Solution
NYCE to Provide Mobile Financial Service to Financial Institutions
Sybase 365 Partners with C-Sam to Expand Mobile Banking Platform
Monitise to Provide Mobile Banking Solutions to Five Financial Institutions
ACI Offers Mobile Banking Suite in Association with mFoundry
Rakuten and Tokyo Tomin Bank Set up Online Banking Branch
NAB Partners Telstra to Offer Mobile Banking
SK Telecom and CitiGroup Joint Venture to Offer Mobile- Banking Services
Vodafone UK and Yodlee Collaborate to Provide Mobile Banking Solutions
CCFCU Selects mFoundry for Mobile Banking Services
Monitise and Made In Africa Form JV for Mobile Banking and Payment Services
Monitise and Everlink to Offer Mobile Banking and Payment Services
Monlink and UK Retail Bank Sign Contract for Mobile Banking Services
BECU to Provide Mobile Banking Services
Diemo Selects XIUS-bcgi Mobile Services Platform
Obopay Inks Agreement with Grameen Solutions
Warid Telecom Signs Agreement with BRAC Bank for SMS Banking Services
Alerus Selects ClairMail to Support Launch of Mobile Banking Service
SBS Inks Agreement with IDB to Advance Mobile Banking Services in Peru
Axiom Partners with Vipera for Mobile Services Division
PNC Selects ClairMail to Extend Mobile Banking Services
NCR Agrees to Provide Mobile and Online Banking Services to Hanmi Bank
Fiserv and M-Com Enter Into a Deal
eCommLink and Monitise Partner for Mobile Money Services
Monitise Americas Adds Extends Partnership
APX Network Enters into an Agreement with QSPAN
Essar Acquires Minority Stake in Obopay
Citi Cards Enters into Strategic Relationship with Firethorn Holdings
EverMobile Forms Alliance with RIM
Intercredit Bank Deploys ClairMail Mobile Banking Solutions
FIS, mFoundry and ClairMail Inks Deal to Launch Advanced m-Banking Service
SSL Wireless Inks Deal with Islami Bank for Mobile Banking Solutions
Celcom Selects paybox to Unveil Mobile Payments and Banking Services
Celcom Selects paybox to Unveil Mobile Payments and Banking Services
Amdocs and Bankinter Release Mobile Banking Services
BB&T Enters into Alliance with mFoundry and ClairMail
Verizon in Strategic Partnership with Firethorn
Qualcomm to Acquire Firethorn Holdings
Gemalto and Redeban Unveil M-Banking Service
Monitise Signs Joint Venture Agreement with Metavante Corp
Bharti Telesoft Signs Agreement with Barclays Bank
Fidelity Inks Deal with mFoundry
Claro to Sign Deal with Brazilian Bank
China Unicom Partners with Industrial Bank for Mobile Banking
Metavante Signs Agreement with Monitise
Open Solutions Partners with MShift to Deliver Mobile Banking Solutions
Western Union Collaborates with GSMA for Mobile Banking Solutions

8.FOCUS ON SELECT PLAYERS

I. Banks Offering Mobile Banking Services
Bank of America Corp (US)
Barclays Bank Plc (UK)
BB & T Corp. (US)
Citibank N.A (US)
JPMorgan Chase & Co. (US)
Lloyds TSB Bank Plc (UK)
The PNC Financial Services Group, Inc. (US)
Wells Fargo & Company (US)
II. Companies Offering Mobile Banking Solutions
ClairMail, Inc (US)
Firethorn Holdings, LLC (US)
Fronde Anywhere Ltd (New Zealand)
Fundamo (Pty) Ltd (South Africa)
Macalla Software Ltd (Ireland)
mFoundry (US)
MI-PAY Ltd (UK)
Monitise plc (UK)
Monitise Americas (US)
MShift, Inc. (US)
Sybase Inc. (US)

9.GLOBAL MARKET PERSPECTIVE

Table 3. World Recent Past, Current & Future Analysis for Mobile Banking by Geographic Region – US, Canada, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

Table 4. World 11-Year Perspective for Mobile Banking by Geographic Region – Percentage Share Breakdown of Number of Users for US, Canada, Europe, Asia-Pacific, and Rest of World for 2006, 2009 & 2015 (includes corresponding Graph/Chart)

III. MARKET

1.THE UNITED STATES

A. MARKET ANALYSIS

Outlook
Mobile Banking Market – An Overview
Mobile Banking Market - At a Glance
Growth Drivers and Market Restraints
Factors Driving Growth in Mobile Banking Sector
Factors Restraining Growth of Mobile Banking
Mobile Banking – Trends to Watch Out
Mobile Banking Proving Successful in Second Innings
Recession Fuels Demand for Mobile Banking Services
Gen Y – A Key Demographic Segment
Text Messaging Services Gain Popularity
SMS – Preferred Form of Mobile Banking
Device Characteristics to Drive Mobile Phone Adoption
Mobile Banking Draws Major Tech Enterprises
Lack of Initiatives Hampers Growth of Mobile Banking
Mobile Banking Delivery Channels – Potential Growth Opportunities
Comparative Analysis of Various Mobile Banking Delivery Channels
Short Messaging Service (SMS) Banking
Mobile Web
Mobile Client Applications
SMS with Mobile Web (SMS with WAP Push)
Secure SMS
Competitive Landscape

Table 5. Leading Players in the US Mobile Banking Market (2008): Percentage Share Breakdown of Number of Customers for Bank of America, JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc., BB&T Corp., PNC Financial Services, and Others (includes corresponding Graph/Chart)

Product/Service Launches
Strategic Corporate Developments
Key Players
Bank of America Corp
BB & T Corp.
Citibank N.A
JPMorgan Chase & Co.
ClairMail, Inc
Firethorn Holdings, LLC
mFoundry
Monitise Americas
MShift, Inc.
Sybase Inc.
The PNC Financial Services Group, Inc.
Wells Fargo & Company

B. MARKET ANALYTICS

Table 6. US Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

2.CANADA

A. MARKET ANALYSIS

Outlook
Smartphones to Boost Mobile Banking
Barriers to Mobile Banking
Future Trends in Mobile Banking
Product/Service Launches
Strategic Corporate Developments

B. MARKET ANALYTICS

Table 7. Canadian Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

3.EUROPE

A. MARKET ANALYSIS

Outlook
Mobile Financial Services in the EU
Status of Mobile Banking Services in the EU
Mobile Banking Set to Witness Rapid Growth

Table 8. Penetration (%) of Internet Banking & Mobile Banking in Select European Countries (2010) (includes corresponding Graph/Chart)

The United Kingdom
Overview
Mobile Banking to Move Beyond Text Alerts
Advanced Technologies, Devices & Features to Boost Prospects
Economic Downturn Propels Mobile Banking Usage
Government to Promote Mobile Banking Solutions in Developing Countries
Product/Service Launches
Strategic Corporate Developments
Key Players
Barclays Bank Plc (UK)
Lloyds TSB Bank Plc (UK)
Macalla Software Ltd (Ireland)
MI-PAY Ltd (UK)
Mobipay Spain, SA (Spain)
Monitise plc (UK)

B. MARKET ANALYTICS

Table 9. European Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

4.ASIA-PACIFIC

A. MARKET ANALYSIS

Outlook
Mobile Banking in Select Regional Markets
China
India
Mobile Banking Set for Rapid Growth
Banks Shift Focus to Rural Areas
RBI Guidelines Boost Mobile Banking Sector
Limited Success of Alternate Channels Boost Prospects
Mobile Banking Fails to Enthuse Urban Mobile Users
Challenges Facing Mobile Banking in India
Pakistan
South Korea
The Philippines
Product/Services Launches
Strategic Corporate Developments
Key Players
Agricultural Bank of China (China)
Fronde Anywhere Ltd (New Zealand)
Industrial & Commercial Bank of China Limited (China)

B. MARKET ANALYTICS

Table 10. Asia-Pacific Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

5.REST OF WORLD

A. MARKET ANALYSIS

Outlook
Mobile Banking in Latin America – Overview

Table 11. Penetration (%) of Bank Accounts and Adult Mobile Phone Users in Latin America (includes corresponding Graph/Chart)

Mobile Banking – A Small Yet High Potential Market
Colombia – Growing Popularity of Mobile Banking
Mobile Phone Banking in Africa – An Insight
Kenya
Nigeria
South Africa
Product/Services Launches
Strategic Corporate Developments
Key Players
Fundamo (Pty) Ltd (South Africa)

B. MARKET ANALYTICS

Table 12. Rest of World Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 84 (including Divisions/Subsidiaries - 85)
Region/CountryPlayers
The United States
Canada
Japan
Europe
Germany
The United Kingdom
Rest of Europe
Asia-Pacific (Excluding Japan)
Latin America
Africa
Middle-East