Gartner says mobile banking bigger than mobile browsing

I just read another interesting article on mobile banking and mobile money transfer. Gartner says many emerging and rapidly developing nations like India, Brazil, China, the Philippines, Indonesia and Africa have gone right to mobile banking, “skipping” ATMs and other banking infrastructure all together. In the US, 17% of all adults are using mobile banking and the number is dramatically increasing. Gardner predicts by 2012 SMS-based money transfer will be bigger than mobile browning and search!

Not surprisingly, a lot of these companies are looking to raise capital. Many mobile banking companies are looking for global consulting services as well as financial consulting services along with their venture capital investment. US operational support, sales support and marketing are also something many of these companies are looking for as most are outside the US. Gartner also says that many banks are relying on US and global banking mobile apps to sustain and increase growth over the next few years. I wonder what will happen to all those ATMs?