Adoption of mobile banking in Europe is increasing, with 47% of consumers with a smartphone or tablet now using the service, up from 41% in 2015, according to a survey from ING. And 71% of those using mobile banking say it’s helping them manage their money better.
Although providing a mobile banking channel is a near-necessity for banks, there may be some negatives as far as revenue. When consumers are saving more, they’re probably using their cards less, meaning lost payments and loan revenue.
For more on this story visit the following link: Here’s why banks must offer mobile banking
Source: Business Insider