Welcome!

Wearables Authors: Dana Gardner, Pat Romanski, Liz McMillan, Elizabeth White, Peter Silva

News Feed Item

Research and Markets: Mobile Banking in Australia: Sizing the Market Opportunity and How Much Will It Grow in 2013

Research and Markets (http://www.researchandmarkets.com/research/cf594m/mobile_banking_in) has announced the addition of the "Mobile Banking in Australia: Sizing the Market Opportunity" report to their offering.

There a number of benefits of moving towards a targeted mobile banking strategy, including aiding customer retention and acquisition. It is possible to segment consumers based on their use of and attitudes towards the mobile channel, and to create distinct strategies for each segment aimed at encouraging their use of mobile and maximizing the benefits from this shift in channel use.

SIZING THE MARKET OPPORTUNITY

- Introducing the opportunity

- Mobile banking already spans the Australian population

- Almost 5 million Australians already use the mobile banking channel

- To make sense of the current mobile banking scene, Datamonitor has further segmented the market

- A relatively consolidated banking and smartphone market have made it easier to extend mobile banking

- Mutuals are beginning to join the market, extending coverage across the spectrum of authorized deposit-taking institutions

- The mobile banking market has the potential to become the main channel that a client uses to interact with their bank

- Mobile banking has quickly emerged as the most frequent way to keep up to date on balances

- Consumers increasingly view mobile as an essential channel

- The provision of mobile banking services is advancing rapidly

- A targeted mobile strategy can bring a number of key benefits to providers

- Mobile will encourage greater engagement between banks and their customers

- Mobile banking will reach a wider audience than online banking, making it important to decouple the two

- Non-digital channels will be freed up for more value-added activities

- Banks will need to deal with fraud quickly and effectively to reduce brand damage

- Soft benefits to bank brands are real if less tangible benefits of mobile banking

- The shift to mobile will allow banks to cut their operating costs... but only to a certain extent

- Mobile will allow consumers extra options for dealing with their providers

- Banking apps can provide banks with concrete benefits at all stages of mobile evolution

- Banks can directly track the return from a banking app on both sides of the balance sheet

- Mobile has become another differentiator between providers' offerings

- Mobile banking offers access to previously unreachable customers

- Time pressures on consumers increase the appeal of the mobile channel

- Mobile has the potential to overtake the online channel in banking

- Small screens create a new challenge for marketers, which must optimize content for this channel

- Mobile allows consumers to react quickly

- Mobile users are a captive audience

- Location-sensitive information offers additional depth to the mobile channel

MAXIMIZING THE OPPORTUNITY

- The target consumer groups for mobile banking are the young and affluent but it can expand

- The under 35s are embracing the platform but they need not be the only growth market

- Affluent and high-income clients are increasingly interacting with banks via mobile apps

- Regionally, the more densely populated eastern seaboard is a more fertile market for mobile banking

- Niche apps are a great way to reach out to homebuyers but other life events need to be considered

- Property apps have blazed the way in delivering real customer benefits through the mobile channel

- Mobile app functionality needs to fulfill two key requirements to drive downloads and usage

- The current market dynamics can see mobile banking use rise to 5.4 million within the year

- The market is forecast to grow dramatically as more smartphone users take up apps

- Addressing security concerns alone could attract 2.5 million new mobile banking app users

- Tailored functionality is key in driving mobile usage but so is the fun factor

- Banks need to tackle issues regarding functionality, perception, and marketing simultaneously

- Innovators need mobile banking to stay new and interesting, requiring product innovation

- Increasing app usage means reaching out to early adopters with functionality that they appreciate

- Widening the base by attracting mainstream consumers

- Laggards will need to be prompted to use mobile banking

- Refusniks are best approached indirectly and require a two-stage process

- Giving away a mobile device is not attractive to drive mobile banking but financing it may be

- What will the market look like once mobile banking is commonplace

- Out-of-the-ordinary features will add immense value to the mobile channel

- Multiple banking apps will be required as the mobile banking market matures

- Smaller bank players will be able to compete more effectively against the majors

- Branches will offer technical support in addition to financial advice

- Banking will be more proactive as location-based services can push products as they are required

- Savings products will have more money in them for longer over the course of the month

- Mobile banking will be another way for banks to reduce the time it takes to rollout mobile payments

Companies Mentioned

- Apple Inc.

- ASB Bank Limited

- National Australia Bank Group Limited

- Research In Motion Limited

- Royal Bank of Scotland Group PLC

- Shanks Group plc

For more information visit http://www.researchandmarkets.com/research/cf594m/mobile_banking_in

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
Korean Broadcasting System (KBS) will feature the upcoming 18th Cloud Expo | @ThingsExpo in a New York news documentary about the "New IT for the Future." The documentary will cover how big companies are transmitting or adopting the new IT for the future and will be filmed on the expo floor between June 7-June 9, 2016, at the Javits Center in New York City, New York. KBS has long been a leader in the development of the broadcasting culture of Korea. As the key public service broadcaster of Korea...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
IoT generates lots of temporal data. But how do you unlock its value? How do you coordinate the diverse moving parts that must come together when developing your IoT product? What are the key challenges addressed by Data as a Service? How does cloud computing underlie and connect the notions of Digital and DevOps What is the impact of the API economy? What is the business imperative for Cognitive Computing? Get all these questions and hundreds more like them answered at the 18th Cloud Expo...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...