Mobile is now the largest banking channel by transaction volume, and more than 25% of the world's population will be mobile bankers within four years, according to a new report.
The number of mobile banking users worldwide will double to 1.8 billion within four years, according to the Global Mobile Banking Report from United Kingdom-based firm KPMG, which contained primary survey data supplied by the Switzerland-based UBS Evidence Lab.
The research also revealed that mobile banking adoption among new financial institution customers is now entering an exceptionally rapid phase, with mobile banking clearly supplanting all other channels as the main portal connecting financial institutions and consumers.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
