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Bank 2.0 by Brett King

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Revenue and Savings Opportunities

Like online banking, mobile banking is a “sticky” service that can increase customer loyalty and profitability. Although, like any channel, mobile banking introduces some operational costs, it is by far the lowest-cost bank channel on a per transaction basis, averaging about 8 cents per transaction versus $4 for the branch and $3.75 for the call centre.28 Clearly, institutions can reduce costs by converting offline customers to the less expensive mobile channel. All the indications are that adoption of mobile is speeding up incrementally. Apart from those examples we’ve already covered, there are a myriad of global examples of mobile banking and commerce well underway:

                    Japan has more than ...

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