Mobile Banking to Generate Almost 90 Billion Text Messages Per Year By 2015

New types of SMS mobile banking alerts will help to treble the volume of mobile banking messages to almost 90 billion per year by 2015, equating to one message every two days, per mobile banking user, according to a new study by Juniper Research.

Juniper interviewed executives at 77 banks around the world about the popularity of SMS, mobile browser, smartphone apps including iPhone and Android and other apps such as Java. The survey found that over 80% of banks offer some form of mobile banking; that Western Europe will be the region with the highest penetration of users in 2015; and that transactional mobile banking usage will see similar growth rates to SMS.

The firm found that banks plan to use alerts to speed up customer communications during applications for products such as loans and mortgages. The overall strategy behind alert messaging development is to encourage customers towards the self service world.