Mobile Operators: Leveraging Mobile Financial Services to Up-Sell Additional Mobile Content
Report Summary
Mobile Operators: Leveraging Mobile Financial Services to Up-Sell Additional Mobile Content
Mobile operators’ increased involvement in the adoption of mobile banking could lead to greater opportunities for mobile data plan marketing.
Boston, MA, October 27, 2008 – A new report from Aite Group, LLC reveals potential co-opportunities for banks and mobile operators to work together toward consumer acceptance of mobile banking services. The report shows that increased involvement on the side of the operator could lead to greater opportunities to market their mobile data plans.
The two key players in mobile banking are the banks, with their relative resistance to experiment with new communications paradigms, and mobile operators, who by their nature are forerunners of technological innovation. While banks have been exploring mobile banking in order to remain competitive, mobile operators have had little active involvement in such services. However, the results of an Aite Group online survey of 500 users of credit and debit cards to identify trends regarding adoption of the mobile channel for financial transactions suggest greater involvement on the side of mobile operators could be worthwhile for them. The report shows that users of mobile financial services trend toward a far greater consumption of all forms of mobile content, not just those relating to financial services.
"There is fertile ground for cross selling between banks and mobile operators in the United States," says Nick Holland, senior analyst with Aite Group and co-author of this report. "Survey results indicate that users of mobile financial services are likely to be power-consumers of other forms of mobile content, including gaming, music and mobile Internet. Furthermore, these users prove far more likely to be subscribers to a monthly data plan. Opportunities clearly exist for co-promotion of services between banks and mobile operators."
This 15-page Impact Report contains six figures. Clients of Aite Group's Retail Banking service can download the report.