Juniper: 150 million to adopt mobile banking by 2011

Report predicts Far East, North America and Western Europe will account for over 70% of users

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By  Vineetha Menon Published  January 15, 2009

Over 150 million people worldwide are expected to adopt mobile banking within the next two years, a report by Juniper Research has claimed.

The figure refers to additive banking which focuses on adding further choices to existing customers in developed markets, as opposed to transformational banking that involves extending services to customers in emerging countries that can’t be reached through traditional branch-based options.

While the mobile banking market is presently the most advanced in the Far East, a lot more services are being offered in North America and Western Europe.

Juniper estimates these three nations will account for more than 70% of the user base in 2011.

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