Mobiel banking is steadily rising the number of transactions is expected to rise from 2.7 billion in 2007 to 37 billion by 2011, According to Bank of America said it signed up 224,000 new users during the quarter to bring it active mobile banking base to 840,000. Assuming the 75,000/mo pace continues through second quarter, the bank should be over 900,000 now and will surpass 1 million in the next few weeks. Although it’s a nice milestone, it’s only 4% of the bank’s 23+million active online banking users (here). Given that mobile is pushed frequently in the bank’s online banking area, one could argue that 4% adoption is pretty anemic. But according to M:Metrics, less than 14% of U.S. mobile phone users accessed info via the mobile web in February. So 4% of a 14% universe is much more impressive, indicating the bank has tapped almost 1/3 of the short-term potential for mobile web-based services…a good start.
To really goose adoption, text-based solutions may need more emphasis (see Chase screenshot below). According to M:Metrics, U.S. text users outnumbered mobile web users almost 4 to 1 in February, 110 million to 30 million.