Friday, March 13, 2009

Mobile banking is business in the US

In a recent report published by Synergistics some startling findings about the take-up of mobile banking for Small Businesses are made. (Read more here). While the size of the sample and the research methodology can probably have an impact in the interpretation of the results, this is a massive endorsement for mobile banking.

According to this research, large percentages of the sample reportedly use mobile devices for financial transactions. As much as two thirds doing some kind of banking transaction, whereas about 40% have reportedly used their device to do a money transfer transaction. (40%!!). If this is just partially true, this is a major revolution. I still remember people talking about the potential of mobile banking for small businesses in the US just one year ago.

Granted, some of the transactions are e-mail based. (This is what you get in a Blackberry dominated society). Something to blog about in future maybe: Can an e-mail channel on a Blackberry be utilised for mobile banking?

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