Banks Missing a Mobile Trick, says mBlox

Research carried out by mobile transaction network mBlox has revealed a gap in the mobile services currently offered by UK banks and credit card providers.

mBlox analysed the mobile activities of 50 UK banks and credit card providers in September 2010. It found that 84 per cent of UK banks and credit card providers do not offer SMS transactions or balance alerts as part of their customer service offering. A further 34 per cent do not have a mobile website, and 76 per cent do not yet have a mobile application, with only 16 per cent offering an iOS mobile app, 8 per cent an Android app and 2 per cent, a BlackBerry app.

“Our research shows that many banks and credit card providers are missing a significant opportunity to serve and engage with consumers,” says mBloxfounder and chief strategy officer, Andrew Bud. “SMS is still the most dependable, effective way for banks and credit card providers to reach practically all their customers. Earlier this year, Juniper Research predicted that mobile banking services will use this medium 50 per cent more in 2015 than in 2010, engaging consumers worldwide at a rate equivalent to about one message per month for every man, woman and child on the planet.

“Consumer demand for access to mobile banking services is growing fast, so financial institutions must ensure that they offer a full range of secure and reliable mobile services, including mobile websites, mobile applications and SMS.  Engaging consumers effectively via the mobile medium will rapidly become a key competitive advantage.”