The SAP research pinpoints that the ability to use a mobile device at any time of the day (51 percent), on the go (51 percent) and with speed (50 percent) and convenience (50 percent) are seen as clear benefits for increasing consumer mobile adoption. However, there are still barriers that banks should address, including the hassle factor of having to enter a lot of personal information (46 percent), safety concerns (45 percent) and Internet access at the point of purchase/transaction (43 percent).
The research was conducted with 12,424 adults over the age of 18 globally who own a basic mobile or smartphone device. Respondents completed an online survey between March and April 2013. Research was conducted by Loudhouse Consultancy, an independent research agency based in London.
The financial services industry at SAP is growing rapidly, with more than 17,000 customers making it a valuable asset for collaboration and co-innovation. A major element of the company's approach is to understand and address the specific needs of the industry in order to help financial institutions around the world become more customer-centric, reduce cost and complexity, and more easily manage regulatory and risk compliance.