Mobile Banking: The Mobile Payments Imperative
Ryan Boyles 100000UX41 email@example.com | | Tags:  banking industry transactions mobile services ibmmobile financial ibmimpact
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Guest post by Cecile Poyet, Worldwide WebSphere Industry Marketing Manager
The worldwide mobile payment market is expected to reach 448 million users and $617 billion in transaction value by 2016 -- another trend in mobile banking that is difficult to ignore.
In developing countries, mobile represents a significant opportunity to create profitable services for the unbanked or under-banked populations. In developed markets, where access to financial services is more commonplace, mobile represents an opportunity to create feature-rich products that enhance consumers’ banking or shopping experience.
In all cases, in order to fully take advantage of the explosion of mobile payments worldwide, banks will need to adapt their infrastructure as the inevitable transaction volume increases put increasing pressure on legacy systems at a time when consumer-facing and application layers need to change rapidly. Successful banks will:
The market opportunity for mobile payments is tremendous, and so is the pressure to modernize, collaborate, adapt and innovate in order to efficiently extend your banking businesses to mobile employees, customers and partners while maintaining the integrity of your assets.
To learn more about how IBM is helping banks around the world to turn their investments in mobile into new sources of revenue, visit www.ibm.com/mobilefirst and make sure to attend the following sessions at Impact: