“Smartphonatics enthusiastically use their smartphones when they shop for products and services as well as when they interact with their banks,” said Ron Shevlin, senior analyst, Aite Group, in a press statement. “It is quite clear they are an emerging consumer force. Smartphonatics are driving the adoption of mobile banking and payments and will be an agent for change. Financial and retail institutions will need to adapt or risk being left behind.”

The research indicated that globally around 25% of consumers count as Smartphonatics, with higher numbers found in India and China than in the United States and Europe.

The study stressed that, despite the surge in popularity for mobile banking, it is too early to proclaim the death of traditional analog banking.

“Consumers expect to shop and transact anywhere, at any time making mobile the hottest area of opportunity for financial institutions, processors and retailers today,” said Ralph Dangelmaier, president, Global Markets and Services, ACI Worldwide, in the statement.

“These organizations need to plan strategically for mobile as part of their overall channel strategy, alongside ATMs, POS, branch and online banking. The most successful companies are leveraging their existing banking and payments systems to implement innovative mobile services. That way, they can cut down costs and time to market for new mobile ventures,” Dangelmaier said.

The full report is available as a free download.