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Cambridge, Massachusetts - July 14, 2010 - The growth of smartphones in Latin America will provide the perfect ecosystem for the growth of mobile banking, enabling operators to offer new value-added services to their clients, reduce churn, and increase revenues, according to a new report from Pyramid Research (www.pyr.com).
Smartphones and 3G to Create Mobile Banking Opportunity for Network Operators analyzes the opportunities that mobile banking will create for mobile operators and banks in Latin America. It also examines some business models under which mobile banking can develop: Banks going it alone and hybrid models where banks and operators work side by side. Lastly, the report also warns about the dangers of poor regulation for the future of mobile banking. Download an excerpt here. Purchase the report here.
Latin America will witness a sizable growth in 3G+ networks and the broad use of smartphones. "8.6 percent of all the new units sold in Latin America in 2010 will be smartphones," says David Noe, Senior Analyst at Pyramid Research. "However, this percentage will grow dramatically during the forecast period; our estimation is that almost one-third (32.2 percent) of the new handhelds sold by 2014 in Latin America will be smartphones," Noe adds. Pyramid Research also forecasts that mobile banking in Latin America will grow among middle-to-higher income, technologically savvy users with more advanced handhelds. "These conditions will create new business opportunities for mobile network operators (MNO) and banks, which will be able to offer mobile banking services to their clients," says Noe.
The increased use of smartphones will give greater access to better mobile banking services, and the banks will not let the opportunity pass. But it is important that banks and operators do not apply a one-size-fits-all approach when they develop their mobile banking products. "The needs, mobile phone capabilities and education levels of end users vary wildly," indicates Noe.
Smartphones and 3G to Create Mobile Banking Opportunity for Network Operators is part of Pyramid Research's Latin America Telecom Insider report series. Download an excerpt of this report here. This report can be purchased online here or by contacting info@pyr.com.
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About Pyramid Research
Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the telecommunications, media and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries – a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research and insightful technology analysis.
About Light Reading
Founded in 2000, Light Reading (www.lightreading.com) is the leading online media, research, and event focused company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technological and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading’s research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, and TelcoTV Asia, Ethernet Expo New York and Ethernet Europe, and The Tower Summit @ CTIA, as well as focused one-day events tailored for cable, mobile, and wireline executives in the US, Europe, India, and China. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.
About UBM TechWeb
UBM TechWeb (http://www.ubmtechweb.com/)), the global leader in technology media and business information, enables people and organizations to harness the transformative power of technology. Through its core businesses - media solutions, marketing services, and professional information - UBM TechWeb produces the most respected and consumed brands, applications, and services in the technology market. More than 14.5 million business and technology professionals (CIOs, IT and IT Support managers, Web and digital professionals, software and game developers, government decision makers, telecom providers and business executives) actively participate in UBM TechWeb’s communities. UBM TechWeb brands include: global face-to-face events such as Interop, Game Developers Conference (GDC), Web 2.0, Black Hat, and VoiceCon; large-scale online networks such as InformationWeek, Light Reading, and Gamasutra; research, training, and certification services, including HDI, Pyramid Research, and InformationWeek Analytics; and market-leading magazines such as InformationWeek and Wall Street & Technology. UBM TechWeb is part of UBM, a global provider of media and information services for professional B2B communities and markets.
Press contact:
Jennifer Baker
+1 617 871-1910
jbaker@pyr.com
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