The Popularity of mBanking is Growing

In the first year since the Erste mBanking application for iPhone and Android mobile devices was offered to clients, along with the payment service “Snap and Pay”, more than 9,100 new users of Erste Bank’s mBanking service have been recorded, which represents an increase of nearly 42 percent compared to the number of users at the end of 2011.

The total number of users now stands at 25,557, according to Erste. During the past year, more than 76,600 transactions were conducted via the mBanking service, which is 35 times more than in 2011, when Erste Bank offered the mBanking service but not the smartphone application. The total value of transactions conducted during 2012 amounts to over 64.9 million kuna.

As the bank reports, with the release of the smartphone version of the application at the beginning of 2012, Erste Bank’s market share in mobile banking, based on the number of transactions, significantly increased from 0.45 percent at the end of 2011 to nearly 11 percent at the end of 2012. According to statistical data for 2012, it is evident that users of Erste Bank’s mBanking service made an average of about 6,390 transactions per month, totaling approximately 5.4 million kuna. If we look at it individually, a client made an average of just under 5 transactions in one month, with a total average amount of 831 kuna.

“The awareness that clients need banking services regardless of location, regardless of time or time of day, prompted us to be the first in the market, back in 2005, to offer mobile banking services, and a year ago a new mobile banking application for smartphone devices. The application, in addition to the usual functionalities, also offers the “Snap and Pay” option, which allows bills to be paid without manually filling out payment orders, as well as some other functionalities that distinguish our application from other mobile banking applications,” emphasized Danijel Baruškin, head of the electronic banking department at Erste Bank.