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ISCOVER
Staff Reporter
Over one billion people will use their mobile phones for banking purposes within five years, according to new research.
A report on mobile banking by Juniper Research claims the milestone will be reached by 2017. According to the research, 590 million people worldwide currently use mobile banking.
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“While messaging remains highly popular and relevant in the financial sector, apps will be the dominant access mode in developed markets with banks reporting an increased number of visits per month on their mobile apps,” said report author Nitin Bhas.
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