Mobile Banking Continues to Escalate Among Consumers Posted by AVCU on 10:40 AM

Juniper Research, a British consulting services provider in communications and new media markets, has released a study reporting the number of consumers accessing banking services via their mobile phone will reach 816 million by 2011, a ten-fold increase over those using such services in 2007. According to the report, world-wide mobile banking transactions will rise from 2.7 billion in 2007 to 37 billion, as a greater number of services are deployed worldwide. Separately, Javelin Strategy and Research, a provider of quantitative research focused exclusively on financial services, says more than 100 million U.S. consumers will use mobile phones to access banking services by 2012. Lastly, TowerGroup said in its “U.S. Mobile Banking Forecast 2007-2012” report that nearly 41 million U.S. consumers will conduct some banking activity by mobile phone at least every 90 days by 2012.