The increase in smart mobile technology, such as smartphones and tablets, has led more companies to include e-commerce, remote payments, and a host of new mobile options for customers. Mobile banking, up until recently, was performed through a text messaging service or online through a browser.  

Now consumers can perform balance checks, account transactions, payments, credit applications, and other banking transactions all on the go through a mobile device. The last few years, the mobile and wireless market has been one of the fastest growing markets in the world.

According to a study from Berg Insight, the number of mobile banking users will grow from the 12 million active users recording in 2009 to over 86 million by 2015. At this point, banks are rushing to try and implement new services to keep its customers happy and give them the ability to have complete access to their banking accounts at all times.

As these different mobile methods continue to grow in popularity, so does the need for enterprises to create platforms and payment solutions that are compatible. Retail banks are now planning on investing in the development of mobile payment solutions according to a new report from Forrester (News - Alert) Research.

“Payments are by far one of the biggest opportunities in the space for both online and mobile as the growth of person-to-person and mobile wallets continues,” said Brad Strothkamp, Forrester Research (News - Alert) vice president and principal analyst serving eBusiness & Channel Strategy Professionals said in a statement. “As these initiatives move forward, digital teams will need to drive innovation not only internally but also in the vendor space, especially in areas like digital wallets and revenue-generating payment products.”

The Massachusetts-based research company said 17 percent of U.S. adults who use the Internet are active mobile bankers. The survey showed the most popular features bankers take advantage of are: alerts, remote deposits, and person-to-person payments.

Although the mobile platform has grown in popularity, ultimately it’s still in the beginning stages as users and companies alike have just started to fully utilize the data capabilities. 

Want to learn more about today’s powerful mobile Internet ecosystem? Then be sure to attend the Mobility Tech Conference & Expo, collocated with ITEXPO West 2012 taking place Oct. 2-5 2012, in Austin, TX. Co-sponsored by TMC (News - Alert) Partner Crossfire Media the Mobility Tech Conference & Expo provides unmatched networking opportunities and a robust conference program representing the mobile ecosystem. The conference not only brings together the best and brightest in the wireless industry, it actually spans the communications and technology industry. For more information on registering for the Mobility Tech Conference & Expo click here.

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