Mobile banking users to grow 14 percent year-on-year, compared to 6% for online banking, says new research.
Fintech analysts, Juniper Research, has estimated that over 2bn users will access retail banking services via smartphones, tablets, PCs and smartwatches in 2018.
The research said that 2017 saw “banks worldwide engaging in both technology investments and new tech offerings, although the extent of these activities varied considerably”.
The study mentioned that leading banks for digital transformation in the sector included: Banco Santander, Bank of America, Barclays, BBVA, BNP Paribas, Citi.
“They were found to be in the mature phase of digital transformation, approaching the final stages of objectives as defined in their current roadmap,” said research author Nitin Bhas. “These players also lead in customer training and employee development programmes, with regards to digital technology”.
Technology offerings are also becoming increasingly advanced as banks continue towards digital transformation.
The research estimates customer service cost savings achieved through the deployment of conversational chatbot platforms will reach $4.5bn by 2022.