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How today’s banking solutions and how mobile gambling changed the banking game

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The banking system in gaming, more precisely mobile gambling, is indeed setting the trends for digital banking on the whole.

Not only are the traditional forms of banking beginning their slow, yet inevitable decline and possible phasing out, but consumers are also tending to opt for the digital banking solutions available to them instead.

Taking a look at the numbers alone within the last couple of years, mobile usage and mobile users have only staggeringly increased, year after year. The projected continuation of this growth, in demand and ultimate usage, means that more and more industries and sectors will need to look to integrating digital solutions into all their product and service offerings. These solutions will need to be user-friendly and easy to access, as a means of maintaining workable channels of communications and optimally interacting with customers accordingly.

So, all this talk of numbers. What are those staggering numbers, you may wonder?

Well, wonder no more. Below are some facts about mobile usage garnered from open source statistical information available to the public at large.

According to the stalwart open source statistics and analytical platform, namely Statista, the number of mobile phone users worldwide is (and has been) on the steady incline, notably since 2013, with a projected continued hike, of at least 6% year on year. See the graph representation as presented on the Statista website below.

It should be mentioned here that the above graph is a representation of the market, and the projected future markets, as was predicted in 2015. Now that we’re three years past that date, it is interesting to note what the actual mobile industries’ growth turned out to be.

Looking at another Statistical platform, of equal brevity, namely Statcounter Global Stats website, we’re able to adequately get a clear picture of the immense growth the mobile industry continues to show, a growth that persists irrespective of sub-sectors, industries and fields.

From Statcounter Global stats, it is easy to deduce that the market share numbers as produced by desktop users versus mobile users had a ‘neck-on-neck’ type of competition on the go, which continued as such with Desktop market share numbers always keeping just ahead of the mobile numbers. That is until well into mid-October of 2016. It is around November 2016 that the clear shift from desktop to mobile is evident, as the market share numbers have a marked spike around that time frame, seeing mobile market share numbers climbing steadily, right on past the desktop market share numbers. This much is plain to see when viewing the graph below.

 

With this growth in mobile usage and the inevitable market share is the fact that mobile usage is only following on with this growth trajectory, with projections ever the more alluding to steady and imminent growth for the future.

What all this mobile usage is pointing towards is the fact that consumers are wanting to take their interactivity, in all fields, onto a digital platform. This avails the user to be able to move around freely and effectively multitask other activities while using the same device. A very obvious reason why digital banking solutions are now becoming the norm and will soon be the only real option when it comes to banking transactions and the like.

Mobile gambling and the various mobile gambling casino sites out there have ensured that innovative ways of going about tackling banking solutions have to be created, this way, one can even view the mobile gambling industry as the Mavericks to the digital banking solutions industry. It all boils down to the fact that through trial and error, operators and developers have been needing to offer players a workable, easy and fuss-free, legitimate way of handling payment options when playing their preferred online slots. All of which is ultimately put in place in order to continue offering these said players the most optimized gambling and gaming experience around.

By setting stringent best practices in place, the industry has gone about setting a high standard of customer satisfaction and products as well as service delivery to be followed. This has meant that every mobile gambling operator and online slots casino site would need to adhere to these best practices. For instance, to get players to sign up to join and play online slots as part of the mFortune Casino player communityfor example, or to get players to join any top-notch casino site for that matter, it’s important for these top-level casino sites to maintain best practices throughout. Thankfully, evidence has shown that these types of top-level casinos make every effort to ensure all best practices are met without fail.

It is also expected that these best practices be met as well, to allow for these casino operators to be awarded the licenses and compliance certificates from the necessary Gambling authorities and regulatory bodies accordingly. That being said, there are certain key elements to banking solutions offered by mobile gambling online slots sites that have most probably paved the way toward digital banking solutions overall and as we know it today, in 2018.

Key elements taken from mobile gambling sites best practices that are implemented nowadays in various other banking and financial institutions via a mobile is as follows:

  • SSL encryption technology to keep all sensitive financial data integral and secure
  • Semi-anonymous eWallets, which require little to no personal information to set up and utilize
  • Same day withdrawal processes, decreasing the turn-around time from request to retrieval
  • Same day depositing processes, speeding up the transaction overall
  • Multi-platform access to same banking account (cross-platform functionality is pivotal to be able to appeal to consumers, as they may want to access their banking institute via any given device, not necessarily only a mobile.)

Perhaps, in light of all of the above and better understanding how mobile gambling has had a large role to play in the face of banking solutions in today’s world, we can safely assume that there is still so much more in store.

When looking at how the mobile gaming and mobile app industries are continually evolving, innovating and creating, it is safe to assume that when it comes to digital banking, ever yet will this dynamic beast of commerce and economics meets technology and entertainment continue to fuse and amalgamate. To soon become a perfectly well-oiled instrument that will provide effortless handling of activities, transactions and interactions – all from just a mere click of a button.

We’re indeed living in some interesting times, you can bank on that.

 

Image: Shutterstock

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Editor and content creator for Telemedia – for 18 years and counting

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