Madrid, March 15, 2012.- According to the recent report unveiled by Latinia titled “Mobile Banking in Latin America”, already in its 4th edition, and that analyzes the penetration of mobile financial services among the 100 top entities of the region, “the offer of services through the mobile channel has now entered a more qualitative rather than quantitative phase, where the maturity and rate of competition is measured more by the number of mobile technologies that a bank has in their offer than by the fact ‘whether the bank is mobile or not’, given that 8 out of 10 financial institutions have now committed themselves to mobility in their multichannel strategy”, asserted the marketing department of the Catalonian software manufacturer.
“To have Mobile Banking, simply because this is included within the offer of channels, does not mean that a bank has an edge over its competition regarding tools. There was a time, not so long ago, when this was the case, but that time has already passed; now financial institutions measure their level by the diversity of mobile technologies they offer. They have understood that, within their customer base, the issue is not who prefers to receive alerts and who prefers to have access to the bank by way of an App or browser, but what is important is that their customers combine all these types of sensitivities and preferences. Therefore, they have segmented and enhanced their offer based upon recognition of demand, which denotes maturity and intelligence”, affirmed the report.
“We understand that 77% penetration is the prelude of what can be called a technical ceiling”, continues the report. “There will always be a % of entities that, due to strategic reasons or the market, not because of technological constraints, decide not to invest in Mobile Banking. It is thus possible to think that we are close to what could be defined as a saturation of channel penetration, from which growth is no longer so quantitative, but mainly qualitative, growing mostly only in the number of technologies”.
“Organic growth, we could say in absolutes, that is, in the number of new ‘mobilized’ banks, likewise entails a new and extraordinary growth rate in services, almost reaching two mobile technologies per entity, which leaves the figure of 1.4 of a year and a half ago very far behind. The growth of prior studies kept a very high correlation between the quantitative and the qualitative factor; that is, the number of financial institutions incorporating Mobile Banking grew as much as the services being offered, a level that we could define as being more qualitative, which, on this occasion, is blown to bits”.
You can download this report here.