Report on the internet economy In focus: the financial sector (Summary for the press)
november 19, 2003
Number of mobile banking customers exceeds 400 thousand
In association with Sun Microsystems Hungary, GKIeNET Internet Research and Consulting Ltd. and Westel Mobile Telecommunications Co. conduct quarterly surveys on corporate internet usage and the development of the electronic economy in Hungary. The present report outlines the financial sector’s position in the internet economy.
At September 30, 2003, the number of customers with mobile banking agreements was around 400 thousand in the household segment and 47 thousand in the corporate sector. The number of individual customers increased by 24% over the period of the previous three months and by 86% year-on-year. The number of corporate customers with mobile banking agreements rose by 11% during the past quarter and by 80% over the period of twelve months. The number of mobile banking customers is approximately 100 thousand higher than the number of internet banking customers.
Currently 15 banks are providing financial services via mobile phone, primarily SMS-based services. Six banks are offering banking services via WAP technology, which is more suited for interactive transactions (such as transfers).
Number of customers with internet banking agreements
Customers with mobile banking agreements in the household segment accounted for approximately 7.9% of all individual banking customers at the end of the third quarter, while the rate of corporate customers with mobile banking agreements was 7.8%.
According to the projections of credit institutions and the estimate of GKIeNET, the number of individual and corporate customers with mobile banking agreements was over 420 thousand and approximately 52 thousand, respectively, at year-end 2003.
Based on the forecast of GKIeNET, the number of mobile banking customers could rise by 28% in the household segment and somewhat more dynamically, by 30-32% in the corporate segment.
About the survey
The survey was carried out in November 2003 by means of questionnaires, covering all credit institutions, online savings cooperatives and insurance companies. Banks were represented at 78% in terms of total assets, and insurance companies were represented at 60% in terms of premium revenues.
If you have any questions, please contact GKIeNET at 373-0779.