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BizReport : Mobile Marketing : May 31, 2011

Report: Smartphone banking a hot commodity for Europeans

When it comes to counting cash and paying bills, more Europeans are choosing to do so on the mobile web and with smartphones. The latest data from comScore finds that mobile banking via smartphones increased by 40% in Q1 2011. Researchers says 20 million mobile Europeans are now checking in on their bank through a smart device.

by Kristina Knight

comScore_Inc.gifOverall, smartphone consumers make up about 70% of the mobile banking market.

"Consumers want to be able to access information on the go at any time, and with mobile banking becoming more user-friendly through apps and mobile optimized pages, people are gradually becoming accustomed to it," said Jeremy Copp, vice president mobile for comScore Europe. "It will be important for service providers, such as banks and credit card providers, to watch this development as it can certainly be seen as an indicator of increased trust in mobile services."

According to the report:

• 27% of 25-34 year olds access banking information from mobiles
• 22% of 35-44 year olds do so
• 16% of 18-24 year olds access mobile banking information
• Less than 30% of 45+ consumers utilize mobile banking information

The most likely to bank via smartphone are the French with about 10% of their population choosing to check their checking and savings through a smart device. Conversely Germany, which has the highest penetration of smartphone users has the lowest number of mobile bankers at just under 7%.

In addition to checking their actual bank accounts, consumers are accessing credit card and electronic payment information. Perhaps not surprising for many, men are more likely to bank mobilly than women, but the rate may surprise. Men are nearly twice as likely as women to access banking information in the EU5 - the UK, Denmark, France, Spain and Italy.

Tags: comScore, mobile accessility, mobile banking, mobile content, mobile trends, mobile usage

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