In August 2013, we published our interim report[1] detailing our initial views on mobile banking and payments. This final report summarises the findings from our thematic review.
August 2025 update: This review is historical. See our what we publish[2] page for more information and current views.
Why are we issuing this thematic review?
The retail banking sector now enables everyday banking and payments to be made through a mobile device.
Consumers of the UK’s largest retail banks made more than 18 million mobile transactions per week in 2013 – twice as many as in the previous year. These services can offer consumers a convenient way to bank flexibly, save time and even money by enabling them to better manage their finances.
This thematic review is to determine how firms are achieving good outcomes for consumers when delivering mobile banking products. We are keen to support innovation within financial services where these are in the interest of consumers.
Who is the thematic review aimed at?
This report will be of interest to:
- Firms operating, or considering operating, in the mobile banking and payments market.
- Consumer groups and consumers that use mobile banking.
TR14/15 – Mobile banking and payments[3]
What are the next steps?
- We will be working with the industry to ensure firms have a clear understanding of the key areas identified in this report.
- Our findings will also support our other work, such as Project Innovate, which is designed to help bring innovative ideas that benefit consumers to financial services markets.
- We will continue to work closely with the new Payment Systems Regulator and at an EU level on developments that have an impact on mobile banking and payments.