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Mobile banking on the rise
Mobile makes consumers feel “in control”

Are the new technologies of mobile banking, contactless payments and social media changing the way people bank?

Over the coming years, this issue will have an important impact on marketers and merchants everywhere.

This in-depth survey from ING International provides some surprising answers and a better understanding of this important emerging consumer trend.

Across Europe, more than a third of internet users are already using mobile banking. This comes from almost 12,000 internet users that were surveyed across 12 European countries. In the survey question, mobile banking was defined as where people use mobile devices (such as phones or tablet computers) to help manage their money.

mobile-banking-5.gifHowever, there is a very wide variation country-by-country.

Turkey is by far the most active for internet banking, with almost 50% participation. France and Romania had the lowest activity at one-quarter or less.


Not surprisingly, these consumers are more heavily represented in younger age brackets. In the 25 to 34 year old group, fully one-half of all consumers use mobile banking, dropping to less than one quarter for those over 55.


One of the key drivers behind mobile banking is control, with almost three quarters of all respondents saying that they feel more “in control of spending” using mobile banking. However, less than half, 43%, feel that they actually save more due to using the technology.

The study also looked at attitudes about mobile payments based on NFC technology. Almost one half of the people surveyed indicated they did not feel that their money was secure if they were using contactless payments. This is not good news for the NFC industry, which has spent the past decade working to convince people that NFC is as secure as any other payment method.


The study also looks at consumer views of buying through social media, cash vs. credit, the technology for mobile banking, plus locations and alternatives. Definitely worth reading if you are interested in the mobile future of banking and commerce.

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