Compass Intelligence Press Release
Compass Intelligence Says An Estimated 7.2 Percent of Mobile Phone Users Use Mobile BankingSCOTTSDALE, Arizona, October 29th, 2008: Based on a recent survey by Compass Intelligence, an estimated 7.2 percent of mobile phone users that are 18 or older and employed use mobile banking. These findings are based on a recent web-based survey with an opt-in panel of 20,000 consumers and business decision-makers. "The growth in smart phone adoption is expected to be a leading factor in the future adoption of mobile banking," states Stephanie Atkinson, Managing Partner of Compass Intelligence. As consumers and business users continue to adopt smart phones, mobile banking becomes easier and more user-friendly to perform because these new smart phones entering into the market look and feel very similar to computers.Adoption does tend to be higher, however, among certain subgroups including young adults (age 18-24) and frequent travelers (those that travel 5 times or more per month). As age increases, or frequency of travel decreases, adoption rates decline. Male users are also somewhat more likely to adopt mobile banking services. Adoption rates increase as size of business increases, with enterprises having the highest adoption rate (7.7%). Usage of mobile banking is also highest in the finance industry, as might be expected, and lowest among utilities professionals. Highlights of the survey are displayed below:
- Smart phone users are a key factor influencing the use of mobile banking. 20.5% of smart phone users currently use mobile banking, while only 2.7% of basic cell phone users use mobile banking.
- Younger users are much more likely to use mobile banking.
- Men are more likely than women to use mobile banking.
- Finance, Health care and Transportation & Distribution industrial verticals have higher than average percentage of mobile banking users.
- Push-to-talk service users are more likely to use mobile banking than average mobile phone users.
To access the full report this research comes from, please email info@compassintelligence.com.For more details on the full report click here: http://is.gd/n3Jl. About Compass Intelligence
Compass Intelligence, a consulting and market research firm, specializes in segment and vertical market intelligence for the high-tech, IT and telecom industries. Compass Intelligence offers clients a completely new research experience with a unique and intuitive online intelligence tool, INSTANT Access. The company provides market intelligence subscriptions and market research reports, forecasts, competitive analysis, market data, insights, and announcement analysis for multiple markets. Find us on http://www.compassintelligence.com or http://blog.compassintelligence.com or follow us on Twitter (CompassIntel).
Company Contacts
Stephanie Atkinson
Managing Partner
satkinson@compassintelligence.comHolley Booze
Press Manager
+1 469.693.5110
hbooze@compassintelligence.com