US small business owners are showing a growing interest in mobile banking, with around a third saying they are likely to use such services, according to a survey from Boston-based consultancy Aite Group.
The survey of 303 small businesses found over 60% already bank online and Aite says they are are showing a greater demand for multichannel banking, including mobile.
Of 147 small businesses questioned that actively bank online, 35% said they would check account balances via their mobile if the service was offered at their financial institution's online site. However, just four per cent of those surveyed already do this.
A quarter say they would make intrabank fund transfers with their phone if it was available but just two per cent currently do. A further quarter say they would make bill payments yet just one per cent do this with their phone at present.
Aite says banks cannot ignore this interest in mobile services and suggests it could make them money because, unlike retail customers, small businesses are used to paying for banking services.
Nick Holland, senior analyst, Aite Group, says: "Small businesses clearly show a need for mobile banking, and the segment offers banks a real opportunity to monetize the service - something that has remained largely elusive thus far."
But he warns: "Banks cannot simply offer the same mobile banking services that are currently offered to retail banking customers, however. Instead, they should carefully assess small-business pain points that can be relieved via a mobile interface."