In a survey conducted by Sybase 365, it is found that citizens of the emerging economy are mobile savvy for Banking. Here is the outcome of the survey.

  • 81% of the respondents are aware of Mobile Banking service offered by Indian Banks
  • 49% of the respondents have used mobile banking at least once
  • 36% are looking for banks which offer FREE Mobile Banking
  • Due to increasing Credit / Debit Card frauds in India and no laws to protect the interest of consumers, 67% badly want Mobile Banking alerts for all their Card Transactions. Unlike in the US, In India the consumer is responsible for all fraudulent transactions until the card is cancelled.
  • 35% would pay for instant fraud transaction reports and 41% would pay for freezing the card

So are the Indian banks listening to what consumers want ? ICICI Bank provides SMS alerts for Debit Card Transactions and I am unsure of Credit Cards.