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August 17, 2010updated 04 Apr 2017 4:16pm

M-banking SMSs to hit 90bn a year by 2015

Mobile banking service text messages will treble to 90 billion per year by 2015 if banking lenders utilise new message based services, according to a new study.

By Sarah Fitzmaurice

Mobile banking service text messages will treble to 90 billion per year by 2015 if banking lenders utilise new message based services, according to a new study.

Juniper research contacted 77 banks across the world and found that mobile banking users could receive one text message every two days if mobile banking lenders exploit the possibility of new services.

As well as using text messages to deliver basic banking alerts the report identified that messages could be sent during applications for products such as mortgages and loans to increase efficiency.

"Our research found that messaging is a ‘win-win’ for banks," said Howard Wilcox, author of the report.

"They can improve customer service significantly, whilst simultaneously eliminating the cost of servicing customer enquiries placed with call centres."

Over 80 percent of banks now use some form of mobile banking and the report forecast that the Western European region will have the highest penetration of users by 2015.

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