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Newsbyte: SAP Research Shows Mobile Consumers Demand Mobile Banking 2.0 As They Embrace More Complex Transactions

NEW YORK, Sept. 18, 2013 /PRNewswire/ -- SAP NEWSBYTE -- SAP AG (NYSE: SAP) today announced the findings of a global study across 17 countries on cultural, economic and technology trends impacting consumer mobile appetite and how addressing consumer concerns can expand the opportunity and motivate greater use of mobile commerce services. The research shows that globally consumers are increasingly utilizing mobile devices for banking transactions and account management. Half of the respondents surveyed turn to their devices to pay a bill (55 percent), make a bank transfer (52 percent) and set up a new account (48 percent). The announcement was made at the SAP Financial Services Forum North America, being held on September 18-19 in New York City.


"Technology continues to drive changing customer behaviors and expectations," said Eric Stine, general manager, Financial Services, SAP America. "Through our research, and the work we have done with leading global banks, we see the consumer appetite for mobile banking – and the range of services that can be provided via mobile devices – increasing as customers are keen to embrace more complex banking activity. To realize the promise of becoming an omni-channel institution, banks should leverage the demand for lower-cost, personalized services. The winning recipe, however, is the ability to balance the desire for on-the-go convenience and valued-added services, while addressing information security demands."

Nearly half of mobile users (48 percent) already use their devices for banking transactions and account management, which means there are still opportunities for banks to further increase adoption by offering services that meet customers' needs. With 36 percent of mobile users maintaining three to five bank accounts, 31 percent holding six or more bank accounts and 61 percent indicating that it would not be easy for them to get to a bank branch on a daily basis, convenience is one of the drivers for mobile banking adoption.

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