Financial services go mobile
This report is available to those subscribed to the Digital Consumer module.
New players tip the balance
The way people access and consume financial services has changed significantly over the last decade, with mobile emerging as a new platform and channel. In this report, we look at the intersection between finance and mobile across different perspectives: competitive landscape, consumer usage and enabling technologies. We also look at which markets are seeing the most disruption to incumbent financial institutions and the players that can benefit the most from this, including operators such as Orange and Turkcell and tech players such as Apple, Ant Financial, and Tencent (WeChat).
According to the GSMA Intelligence Consumer Survey, use of financial services on mobiles grew significantly in 2018 across developed and developing markets. Growth was particularly strong in China, which saw double-digit growth in all services.
Millennials use mobile financial services at a much higher rate than other adults, which is an indicator that mobile finance is only set to grow. Consumers are also becoming more independent, willing to use financial services from new entrants and relying less on advice from traditional sources (banks).
New entrants globally have benefitted from supportive capital markets in recent years, raising a record amount of VC funding in 2018. However, the regulatory environment is not a level playing field across all countries; new entrants in Europe, and particularly the UK, have taken a greater share of growth over the past decade than elsewhere.
Related research
Telefónica: Pushing consumer genAI through the Aura digital assistant
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition looks at how Telefónica is driving consumer generative AI through its Aura digital assistant.
e&: Embracing consumer genAI with customer experience as the overarching goal
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition explores e&'s use of generative AI in consumer apps, retail stores and customer service, with customer experience as its overarching goal.
Deutsche Telekom: Driving service innovation and user experience for consumers with genAI
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition highlights how Deutsche Telekom is utilising generative AI to improve service innovation and customer experiences.
Authors
How to access this report
Annual subscription: Subscribe to our research modules for comprehensive access to more than 200 reports per year.
Enquire about subscriptionContact our research team
Get in touch with us to find out more about our research topics and analysis.
Contact our research teamMedia
To cite our research, please see our citation policy in our Terms of Use, or contact our Media team for more information.
Learn moreRelated research
Telefónica: Pushing consumer genAI through the Aura digital assistant
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition looks at how Telefónica is driving consumer generative AI through its Aura digital assistant.
e&: Embracing consumer genAI with customer experience as the overarching goal
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition explores e&'s use of generative AI in consumer apps, retail stores and customer service, with customer experience as its overarching goal.
Deutsche Telekom: Driving service innovation and user experience for consumers with genAI
Operator strategies continue to evolve in the digital era as the telecoms industry seeks to capture new growth opportunities in the consumer and enterprise markets. Assessing innovation and achievements is more important than ever before. GSMA Intelligence's operator case studies provide a concise and consistent way to shine a light on and analyse operators' strategies and business models, as well as how they are launching new services. This edition highlights how Deutsche Telekom is utilising generative AI to improve service innovation and customer experiences.
- 200 reports a year
- 50 million data points
- Over 350 metrics