New forecasts from leading fintech analyst Juniper Research estimates that over two billion users will access retail banking services via smartphones, tablets, PCs and smartwatches in 2018, up 10 per cent year-on-year. The new research, Retail Banking: Digital Transformation & Disruptor Opportunities 2018-2022, found that accelerated adoption in key emerging markets such as India and China means that mobile banking users now represent 50 per cent of the global banked population. Juniper expects that the number of global mobile banking users will now overtake online users in 2018, two years earlier than previously anticipated.
2017 saw banks worldwide engaging in both technology investments and new tech offerings, although the extent of these activities varied considerably. Juniper’s Digital Transformation in Banking Readiness Index analysed leading tier-1 banks to evaluate their digital transformation readiness scores and highlight their respective positioning within
the digital innovation road map.