Improved security is key to success for mobile banking

by Edward O'Brien 0

mobile app

“Mobile banking is struggling to attract new customers, but those already using it are doing so more often, according to a survey from RateWatch, a banking data service owned by TheStreet Inc.
The “Mobile Banking, Mobile Payments Survey” looks at how financial institutions are offering mobile banking services, how customers are using them, and the results so far”, a press release said.

The use of mobile banking, albeit uneven with some users and across various age and income ranges, continues to increase, according to the aforementioned study. And some of the high-level findings in this study mirror similar Mercator Advisory Group studies, showing continued growth potential in the near-to-intermediate term. For example, even though over eight-in-ten FIs offer mobile banking services, just over a third (36%) of consumers say they are not yet using this channel. Banks and credit unions should keep such these points in mind as look for ways to grow their businesses.

Overview by Edward O’Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group

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