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Mobile Banking In The UK: Sizing The Market Opportunity

•Mainstreamers need just a little more persuasion to adopt mobile - Mainstreamers: key findings and recommendations

•Mainstreamers will appreciate access to advice and planning services - Banks can promote their financial planning capabilities via mobile to these consumers

•Mainstreamers can become a more profitable segment through the use of mobile - Comprehensive mobile provision could increase mainstreamers' propensity to pay for services

- Providers can use mobile to increase the number of products that mainstreamers hold with them

•Mainstreamers will value simplicity of use as the most important mobile attribute - Mainstreamers want to go mobile- Mainstream consumers are looking for basic but effective mobile provision

•Laggards and refuseniks can be won over to mobile by focusing on ease of use - Laggards and refuseniks: key findings and recommendations

•Laggards and refuseniks are limited by their willingness to accept new technologies - These segments are profitable to banks on the basis of their existing wealth- Providers can form partnerships with telecoms providers to subsidize smartphone ownership

•Laggards and refuseniks need significant incentives to be persuaded to engage - Mobile can be used to promote strong relationships with these consumers

•Mobile has to be marketed to these segments on the basis of ease of use above all other factors•Staying ahead of the mobile game - Out-of-the-ordinary features will add immense value to the mobile channel- Banks need to offer more than one app to cover the variety of services that can be provided via mobile- Innovators and early adopters are looking for maximum flexibility and sophistication in mobile provision- Mainstream consumers desire solutions that maximize convenience- Laggards can be persuaded to adopt mobile by focusing on simplicity

APPENDIX

•Definitions - App- Personal finance management- Remote deposit capture- Smartphone

•Income band definitions from dashboard

•Methodology - Overall methodology

- Financial Services Consumer Insight Survey

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