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Smartphones may dominate internet banking in 18 months

The St George division of Westpac is planning for 50 per cent of online customer transactions to be conducted via smartphones over the next 12 to 18 months, The Australian reported.About 20 per cent of its internet banking customer base are currently mobile users. The bank has 1.3 million logins and attracts about 500,000 financial transactions each month.About 80 per cent of St George mobile banking customers use Apple's iPhone, with around 30 per cent of downloads of the mobile banking application for Android.

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