Absa announced during this week that they have signed up more than a million mobile banking account holders. To put this in perspective (and I don't have the exact numbers, so Christo (head of mobile banking at Absa) will have to excuse me if I get some statistics wrong):
- This is more than 25% of their customer base
- It is two times more than customers accessing their banking from the Internet. This means that mobile banking is the only electronic channel for a few hundred thousand Absa customers
- The growth to this number took just more than three years, whereas the banking industry in South Africa took eight years to sign up a million Internet banking customers
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