Customers ‘set to bank on tablets’

Research has found more and more people are using their mobiles or tablets to manage their bank accounts.

While in the past people may have restricted their internet activity to online research or entertainment, more people are using it to manage their day-to-day lives – including their finances.

And Juniper Research is predicting that with the increasing popularity of tablets, nearly 200 million bank customers will use their devices to make transactions by 2017.

This will be almost a fifth of the total number of mobile banking users and more than double this year’s figure of 9%.

The study also claims people are more likely to pay bills or transfer money online using tablets than their mobile phones.

The report, entitled Mobile Banking: Handset & Tablet Market Strategies 2013-2017, estimated that the increase in tablet use would see large numbers of people adopting tablets for online purchases and transactions instead of computers.

Nitin Bhas, author of the report, said a significant percentage of bills are now paid online especially in developed markets, and transactions are likely to migrate from the traditional desktop computer to more mobile tablet devices.