Mobile Banking and Mobile Payments: Changing Banking Services in Finland

The purpose of this thesis is to examine how mobile banking and mobile payments services will change the banking sector in Finland, and what role non-bank companies from the IT and telecom industries will play in this process. The thesis consists of a literature review and a qualitative study. The literature review forms a comprehensive overview of mobile banking and mobile payments services. The qualitative research was conducted as a descriptive study, focusing on the views of bank and non-bank players. The results show that banks have a significant advantage over their IT and telecom rivals in regards to their service offering, financial buffer, and status as trustworthy institutions. The banks’ embrace of mobile financial services will change the Finnish banking sector into one, with a light branch network focused on sales power, and a heavy emphasis on new mobile devices providing service power regardless of time and place.