New Survey Finds Forty Percent of Middle Market Banking Executives Would Consider Adopting Mobile Banking Solutions for Their Business

NEW YORK, Aug. 25 /PRNewswire/ -- TNS, the world's largest custom research company, today released results of its latest survey related the use of web-based tools, mobile banking and social networking in the middle market banking segment. The survey, conducted among senior financial executives, reveals a new shift in behavior; despite traditional concerns over security, cost and technological infrastructure, a majority acknowledge that mobile banking will bring vast benefits to their business and many would consider adopting mobile banking solutions in the future.

While overall awareness and usage of mobile banking applications for business-to-business transactions is currently modest, forty percent (40%) of executives surveyed said they were willing to consider using mobile banking solutions in the future. Viewing recent transactions (84%), having the ability to transfer funds (78%) and being able to receive alerts on account activity (76%) are the features of mobile banking that considerers felt would most help their businesses.

Barriers for adopting online banking solutions:

Security is of principal concern for current non-users of mobile banking applications with sixty-one percent (61%) of those surveyed feeling the lack of security or the potential of incurring malware programs like viruses would prevent them from using online banking solutions. Other barriers include cost and technological limitations, where twenty-six percent (26%) feel that using mobile banking for their business would be too costly and twenty-one percent (21%) feel that they are limited by their technological infrastructure.

"Corporate users are so in tune with the benefits and flexibility of mobile technology, they make excellent candidates for mobile banking services," said Glenn Staada, Vice President of TNS.  "The challenge here is to do a better job in demonstrating the ability to perform standard financial functions in a secure, convenient and efficient manner."

An Opportunity and a Challenge with Social Networking:

With social networking, online chats, and blogs becoming increasingly embedded in the fabric of daily life for many people, it's no surprise that there is some traction in this space among commercial banking relationships.  However, most banks are not maximizing the potential social networking can bring in engaging clients and prospects.  While half of all Middle-Market executives use online social networking in their personal lives only ten percent (10%) say they are aware of the bank's presence on a social media web site.

"When it comes to social networking, the challenge for banks is how to make these capabilities an integral part of their services," Staada continued. "Relationship Managers should consider posting frequent updates to clients and prospects that are related to economic trends, conditions in the credit market, ideas to optimize business performance and to simply connect to other key business figures in the community. This is one of several ways Relationship Managers reinforce the position of trusted advisor in the minds of both clients and prospects."

About TNS

TNS, who recently merged with Research International, is the world's largest custom research agency delivering actionable insights and research-based business advice to its clients so they can make more effective business decisions.  TNS offers comprehensive industry knowledge within the Consumer, Technology, Finance, Automotive and Political & Social sectors, supported by a unique product offering that stretches across the entire range of marketing and business issues, specializing in product development & innovation, brand & communication, stakeholder management, retail & shopper, and qualitative research. Delivering best-in-class service across more than 75 countries, TNS is part of Kantar, the world's largest research, insight and consultancy network. Please visit www.tns-global.com for more information.

The Kantar Group

The Kantar Group is one of the world's largest research, insight and consultancy networks. By uniting the diverse talents of more than 20 specialist companies – including the recently-acquired TNS – the group aims to become the pre-eminent provider of compelling and actionable insights for the global business community. Its 26,500 employees work across 80 countries and across the whole spectrum of research and consultancy disciplines, enabling the group to offer clients business insights at each and every point of the consumer cycle. The group's services are employed by over half of the Fortune Top 500 companies.  The Kantar Group is a wholly-owned subsidiary of WPP Group plc. For further information, please visit www.kantargrouptns.com

SOURCE TNS