Consumers worldwide want more from their mobile banking, with balance checking and security alerts the highest priority, according to a global survey by FICO.
The survey showed that 75% of respondents wanted to be able to check their balance, with 59% wanting to be notified of potential fraudulent activity.
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Over half (53%) wanted to make payments from their account, while 50% wanted to transfer money between their accounts using their smartphone.
Stuart Wells, FICO’s executive vice president, chief Product and technology officer, said: "Over one billion consumers worldwide have smartphones in their pockets, so it stands to reason that many of them would want to conduct their banking using those devices.
"For forward-thinking banks, this presents an unprecedented opportunity to differentiate themselves and strengthen their relationships with their customers."
For the research FICO quizzed 2,239 adult smartphone users across the UK, Australia, Brazil, China, France, Germany, India, Italy, Japan, Korea, Mexico, Russia, Turkey and the United States.
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By GlobalDataAmong the other findings of the survey were that young people showed the most interest in mobile banking and the least popular service was receiving information from banks about new products and services, with only 39% of respondents interested.
The survey also found that men were more interested in smartphone banking services than women – by an average 3-4% across all age groups.
Wells said: "The unique ability to combine voice, applications, text, and location information with powerful analytics, personalisation and automated communications make mobile banking much more significant than previous channel expansions, including the advent of ATMs or even online banking."
FICO has made the results of the survey available online, including a quiz for users to test their knowledge of the global mobile banking sector.
The full survey can be downloaded here: http://www.fico.com/mobileIQ
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