"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Sunday, May 15, 2011

International Mobile Banking Updates - May 15

Mobile Banking Surges As Emerging Markets Embrace Mobile Finance
"Global use of mobile finance surged in the past year as the spread of new technology and mobile banking infrastructure drove a huge increase in take-up rates around the world, according to new research from TNS.

In countries as diverse as China , Brazil and Kenya the number of new users of mobile banking soared over 100% in 12 months, as banks leapfrogged traditional service models and moved directly to mobile. The increases were not restricted to emerging markets alone though: take-up rates also surged in the UK, USA, Singapore, South Korea and Sweden where banks offered customers new services via their mobile handset."

Kenya’s m-banking sector sets the pace for Africa’s emerging markets
"The strides Kenya has made in mobile banking were the subject of discussion last week during a four-day Mobile Money Transfer Conference held in Nairobi. Aileen Fraser, a programme manager with US-based MoreMagic and an exhibitor at the event, said they have deployed the Safaricom model in Sierra Leone."

Is the Middle East ready for mobile banking?
"Ali Abbas, Senior Regional Consultant, MENA & Turkey, will present “The Middle East Mobile Commerce Opportunity”, discussing the potential impact of M-Commerce on retail banking and mobile strategies worth replicating. The Middle East offers a robust mobile installed base with the UAE boasting 99.1% of households in possession of mobile telephones. The urban population serves as a key driver for mobile commerce as people move from rural to urban areas with expected growth up to 628,000 in 2015."

Chief Mentor: For Developing Markets, Mobile Operators or Banks?
"The opportunity to use mobile technology to enable financial inclusion among the world’s unbanked population is huge. Of the 6.9 billion people on our planet, just 30% (2.1 billion) have bank accounts, while 75% (5.2 billion) have mobile phones.

In developing markets, mobile banking could bring about a fundamental shift in the consumer experience, giving many millions of people who have never had access to bank accounts or to credit and debit cards the opportunity to quickly, easily and efficiently pay for goods and services and tap into the convenience economy that those in developed countries take for granted."

Latin American operators take m-banking user base to grow by 65% in 2010/15
"A recent research has revealed that the number of mobile banking users in Latin America will grow 65 percent between 2010 and 2015, from around 18 million users to over 140 million users.

Researchers believe that Latin America has achieved the right conditions to smoothly increase the uptake of mobile financial services, including banking and payments. Banking penetration is low in Latin America, but by 2015 85 percent of the total population will be an active user of a mobile device, making those devices a clear entry point for adjacent services, such as payments, banking and remittances."

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