Use of mobile banking by financial institutions around the country has almost doubled in the last year, according to Framingham-based researched IDC, but banks are still struggling with how to collect revenues from the service.
Usage of mobile banking was up across all channels that IDC examined as part of a mobile banking study.
“The challenge with mobile banking continues to be that it introduced a new cost structure without providing opportunities for revenue,” a press release from IDC says about the new study.
Customers, the report says, expect additional services, like mobile banking, to be free and consumers seem unwilling to pay money for them. But, IDC recommends that if services are enhanced, there could be some opportunities to monetize the feature.
