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Juniper Research defines mobile banking as  “the provision of banking services to customers on their mobile devices”: specifically we mean in the vast majority of instances “the operation of bank current and deposit or savings accounts”. However the scope of mobile banking is extending rapidly to further types of financial products and services. In terms of definition of “mobile device”, we make the distinction that the primary function should ideally be mobile telephony. This excludes other mobile and handheld devices with a different primary function such as entertainment, e.g. digital music player or portable games console, or travel, e.g. a GPS enabled  mapping device. Whilst this is our aim, we also recognise that devices such as the iPod Touch which has Wi-Fi are equally capable of downloading the same app that runs on an iPhone: the boundaries are being blurred. In this case, though, whilst this report includes examples that refer to the iPod Touch, all our market forecasts are related to mobile subscribers which enables us to exclude the iPod Touch and similar devices.  Specifically, this whitepaper focuses on additive banking, which adds further choices or channels for banks to serve their customers or making the banking experience more convenient for existing customers. Additive banking is a critical strategy for established banks globally. It applies in developed nations where the banked population is approaching 100% and the banks want to reach particular customer segments in a more effective way or offer greater choice – such as Gen Y users, or road warriors with smartphones. It also applies in developing nations where banks want to provide services in a more convenient manner to existing customers but are hampered by poor banking infrastructure (few branches, few ATMs (Automatic Teller Machines), and limited online banking access  possibly because of poor fixed broadband network infrastructure), although the banked population in many developing countries is limited to 30% or less.  We also distinguish banking from mobile payments, although we recognise that the dividing line between payments and banking is increasingly blurred, especially in developing countries. Juniper Research has a simple definition of a mobile payment as “payment for goods or services with a mobile device such as a phone, PDA (Personal Digital Assistant), or other such device.”

Feb 8, 2021
Dec 6, 2010
White Paper

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