British
Bankers' Association stated that mobile banking is undergoing an evolutionary
phase. As per the data collected by BBA, 5.7 million
transactions occur every day through Smartphones.
“Local
branch closures due to declining demand for day-to-day banking are the
"direction of travel," the BBA said.
"There's
an amazing revolution in the way people are banking," "The reason why it [mobile
banking] has grown so much is just that it's a lot more flexible."
"It's driven by customers - they can do it any time of day or night. You
can pay a bill while at the pub - that sort of
thing." BBA chief said to BBC.
"They
[branches] are an integral part of the industry," he said. "They will
be more focused on the big decisions - taking out a mortgage, taking out a big
business loan, where you need to have a face-to-face interaction."
This
Proves that mobile banking is growing significantly and would change the way
banking is performed in future. A recent report published by AMR gives in-depth
information on global SOHO mobile banking market. The report gives market
trends, analysis, revenue, and market share to understand the growth of market.
The report states that in U.S alone, there are about 20 million SOHO firms.
More information can be found in the report. Also, AMR has a report that
provides you detailed information of global mobile banking.
