UK mobile banking lags behind

Mobile banking will overtake online banking in terms of popularity, it has been predicted by Datamonitor, according to QCK.

It has found that although the UK is currently lagging behind the rest of the world when it comes to mobile banking, once the technology is sufficiently developed it is likely to be used more widely than Internet banking.

The report found that UK consumers do not currently have access to the advanced mobile banking services available in India, Russia and Asia and as a result do not value these services as highly.

Major financial institutions and consumers alike can expect to see changes in the way they handle credit card and bank transactions, reports Credit Net.

The availability of mobile technology has fundamentally changed the way the credit card and banking industries will conduct business in the future, and altered the way consumers will deal with their accounts, according to a report from CNBC.

Already, mobile banking applications have grown incredibly popular with bank customers, and mobile payment solutions are looming for many credit card lenders.

Sybase 365 has powered the Commercialbank of Qatar's comprehensive mobile banking and mobile payments service for its retail customers, reveals BBR

Sybase 365 says that the new, free downloadable mobile banking applications will provide customers with instant and secure connectivity to accounts anywhere, anytime and compliments Commercialbank's Internet banking service.

Customers can check balances, review transaction history and transfer funds between accounts.