Mobile banking has a strong adoption rate among European treasurers and there is a clear demand for wider access according to Treasury Strategies, Inc., a treasury consulting firm with offices in New York, Chicago and London.
In a report issued this week, Treasury Strategies indicated there is a clear vision for the capabilities and functionality demanded by European treasurers, however, mobile services are not widely available.
Treasury Strategies surveyed 160 treasury organizations across Europe and learned that 19 percent of them are using mobile offerings.
“This adoption rate is strong, given how recently these services first became available,” said Monie Lindsey, Managing Director of Treasury Strategies in London.
The primary reason why corporates are not leveraging mobile services is a lack of mobile offerings from their banks. Non-users are highly interested in mobile services, with 93 percent indicating they would like to view balance information via their mobile devices.
“Such strong interest is a call to action for banks to find a way to develop these services for a growing business segment,” said Lindsey.
The path for developing these services is clear. In addition to viewing balances, there is a strong and specific demand for mobile services that would enable a user to authorize and release payments as well as execute and confirm trades.
“The key for corporate treasury is that mobile banking services must be built into the larger technology scheme of the organization. Additionally, banks need to understand how their mobile offerings would fit into the daily operations of their clients in order to develop offerings that meet their clients’ needs,” added Lindsey.