Mobile Banking Market 2019 Global Leaders Overview: Strands, Temenos Group AG, Neptune Software PLC, Capital Banking Solutions, Fisa System, Nymbus

Market Research Future published a research report on “Global Mobile Banking Market Research Report - Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Mobile banking is an online system provided on mobile phones where customers are offered by banking services. With internet becoming the latest trend for the technology users, mobile banking has become the most popular technology for the users. The customers no long need to visit banks for undergoing banking transaction. Mobile banking gives customers an opportunity to bank from anywhere around the world at any time.

The banking industry in the market is adopting new challenges and initiatives in order to drive customer expectation and satisfaction. The customers are quickly implementing new banking apps introduced by banks in order to make use of the new technology introduced. This has been one of the driving factors behind the growth of Mobile Banking Market. Smartphone applications are changing the method of banking services implemented by the customers which is also one of the driving factors for growth in mobile banking market. The advantage of using mobile banking is that it is more secured and risk free than online or internet banking. The only drawback of using mobile banking is that regular use of mobile banking can apply extra charges from the banks for offering the services.

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Mobile banking market is segmented on the basis of solution, technology and deployment. The solution segment consists of customer management, mobile banking features, mobile payment features and mobile trading features. By solution segment, mobile banking features include balance enquiry, recent transactions information, fund transfer, transfer of money using email address or mobile number and alert services. By giving a missed call from the registered mobile number to the bank’s official number gives the customer details about the account balance. These services fulfill the customer expectation and satisfaction which has led to increase in demand for mobile banking in the market.

Key Players

The prominent players in the mobile banking market are – Temenos Group AG (Switzerland), Nymbus Inc. (U.S.), Neptune Software PLC (U.K.), Strands Inc. (U.S.), Capital Banking Solutions (U.S.), Dais Software Company (Bulgaria), Ebanq B.V (Netherlands), Apex Software Ltd. (Kenya), Fisa System (U.S.), among others.

Global Mobile Banking Market Segmentation

Globally, the market for mobile baking has been segmented on the basis of technology, solution, and deployment.

The market has been segmented into mobile banking features, mobile payment features, customer management, and mobile trading features, based on solution. Mobile banking features comprise fund transfer, transfer of money using email address or mobile number, alert services, recent transactions information, and balance inquiry. A customer can know about his account balance and other details by simply giving a missed call from the registered mobile number. With the penetration of smartphones and rapid use of internet, the use of mobile banking is expected to spur in the coming years.

The market has been segmented into wireless application protocol (WAP) and standalone application based on technology. India Bank offers WAP mobile banking to offer more flexibility to the customers to access their bank accounts without having to visit the bank. Customers having enable GPRS facility on their handset can access their account through WAP-based mobile banking. HSBC has launched standalone open banking app, called Connected Money which allows customers to view their accounts on a single screen.
The market has been further segmented into on-cloud and on-premise based on deployment.

Regional Analysis

Geographically, the market for mobile banking has been spanned across regions such as North America, Europe, Asia Pacific, Europe, and Rest-of-the-World. Among these regions, North America has been anticipated to hold the largest market share owing to the increasing demand for adopting mobile banking through smartphones. Customers use mobile channels to interact with banks right from their smartphones.

Europe is also expected to emerge as the fastest growing market owing to the faster transactions and mobile payments done by the banks, thus leading to increase in the adoption of mobile banking by the Europeans.

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Intended Audience:

• Banks
• Government organizations
• Mobile network operators
• Retail network operators
• Security service providers
• Payment service providers
• Regulators
• Research organizations
• Technology end users

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