Mobile Strategy for Financial Services

By: Jon Bluth, September 9, 2012, Archon Strategy

Since it was introduced 20 years ago, mobile technology has evolved to become one of the most widely deployed innovations in modern history. There are more than 5.3 billion mobile devices in use globally; nearly 80% of the world population owns a mobile phone. In comparison, world-wide there are 4 billion FM radios, 1.6 billion TVs sets, and the number of PCs in use trail behind at a relatively meager 1.2 billion. By the end of the 2011 almost half the US population – 150 million people – will have a smartphone, and in much of the world the Internet is already accessed more from mobile devices than from computers connected by landlines. But what does this mean for financial services companies?

Nearly 12% of U.S. consumers use mobile banking today – more than 10 million people – and according to Forrester…

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