The importance of mobile financial services is highlighted

Mobile messaging platforms (SMS) occupy the fourth communication channel with customers of banking services after branch offices, telephone and Internet banking, assured a study conducted by Spanish firm Latinia. “Considering that by the end of the year 2010 there will be more mobile lines than people in Mexico, mobile messaging platforms will become the factor that will mark the difference between banks”, it stresses.

According to the company specializing in mobile messaging platforms, around 60 percent of the main Mexican financial institutions have set their sights on cell phone banking. This represents a 33 percent increase as compared to 2007. It stated that mobile banking has major driving forces in developing strategies oriented toward financial environments. One of them, it added, is reducing costs for the bank, and on the other hand, operating a self service-based communication channel because customers will use this service with their mobile devices.

Federal Telecommunications Commission (Cofetel) data show that there are 76.6 million cell phones in Mexico.

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