Fresh data from 3,300 global respondents reveals a 60% increase of people using their mobile devices to bank online. Almost half (42%) of all mobile users (up from 26% in 2013) are now routinely making payments through mobile devices. Although mobile payments have overtaken the use of credit and debit cards globally, one in ten don’t believe their banks offer the facilities to bank online. Key findings show that: • Mobile payments have overtaken the use of credit and debit cards globally – 17% now use cards compared to 24% using mobile payments • Despite the advancements in mobile banking, one in four users (26%) continue to have concerns about security • One in four (23%) believe that their mobile device is not suitable for online banking
LV= is a dynamic financial services business that offers a range of insurance,investments and retirement products. As the UK’s largest friendly society, the company has more than five million members and customers. LV= 50 Plus is a life insurance plan geared to customers ages 50 and older. Internal research showed that between 35%-40% of LV= 50 Plus customers are on mobile devices of some type, with this figure set to rise in 2014.
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ING Group is a global financial services company operating in banking, insurance and asset management areas. ING Bank, which operates 350 branches in Turkey, perceived the rise in mobile and cross-device usage as a key opportunity, seeing mobile as the heart of banking in the future. “In Turkey, mobile grows with tremendous speed,” explains Feyza Tamer, the company’s Senior Vice President for Digital Marketing and Bancassurance. “According to the latest data, the number of mobile internet users tripled and mobile data consumption quadrupled in only two years.”