In August 2013, we published our interim report detailing our initial views on mobile banking and payments. This final report summarises the findings from our thematic review.
The retail banking sector now enables everyday banking and payments to be made through a mobile device.
Consumers of the UK’s largest retail banks made more than 18 million mobile transactions per week in 2013 – twice as many as in the previous year. These services can offer consumers a convenient way to bank flexibly, save time and even money by enabling them to better manage their finances.
This thematic review is to determine how firms are achieving good outcomes for consumers when delivering mobile banking products. We are keen to support innovation within financial services where these are in the interest of consumers.
This report will be of interest to:
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