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May 29, 2011

Smartphone Mobile Banking in EU records 40% Growth

A recent Comscore market study indicates that 20 million mobile users across the five leading European markets (UK, France, Spain, Germany and Italy), representing 8.5 percent of mobile subscribers in these markets, accessed their bank account via a mobile phone in March 2011


According to ComScore Smartphone users accounted for nearly 70 percent of mobile banking users in the EU5 region (France, Germany, Italy, Spain and the UK).

Apple users exhibited the highest relative usage of mobile banking (index of 393) and accounted for 27.5 percent of all mobile banking users in the region. Apple’s 5.5 million mobile bankers are followed by users of Google’s Android software (index of 245), the latter accounting for 2.7 million of all mobile bankers in EU5.
Symbian, still the 2nd largest smartphone platform in Europe, accounted 3.3 million users of the service, but due to the overall high number of smartphones running on Symbian this resulted in the lowest index with a representation of 110.

Smartphone Mobile Banking By Countries :
French Users are The  Most Avid Mobile Bankers
During the 3 month period ending March 2011, France recorded the  highest penetration of mobile bankers in EU5 with 10.3 percent of consumers accessing bank accounts through their mobile phones.

Spain ranked a close second with 10.2 percent penetration.

Germany, which is the largest smartphone market in Europe, had the lowest penetration of mobile banking users with 6.8 percent accessing their bank accounts.

In the EU5 region, 8.5 percent of mobile subscribers overall accessed mobile banking, whilst 5.1 percent accessed credit cards and 5.2 percent accessed electronic payments via their mobile device.
UK mobile phone owners were the most conservative with regards to accessing credit card accounts and only 3.9 percent of the mobile population used the service in March 2011. On the other hand, mobile banking reached 8.6 percent of the total UK mobile market, making it the third largest market for mobile banking in Europe.