New types of SMS mobile banking alerts will help to treble the volume of mobile banking messages to almost 90 billion per annum by 2015, equating to one message every two days for every mobile banking user, according to a new study by Juniper Research.
The research house says moves by banks and vendors to expand the range of mobile banking messaging beyond alert functionality to encompass product and account application updates will boost bank-to-customer SMS volumes significantly.
Juniper analyst Howard Wilcox says: "Our research found that messaging is a 'win-win' for banks. They can improve customer service significantly, whilst simultaneously eliminating the cost of servicing customer enquiries placed with call centres."