Unknown Risks of Mobile Banking
"One pioneer in mobile banking suggests that banks and credit unions should not let security fears inhibit their moves into mobile innovations. Many security unknowns surround this emerging channel, but San Francisco-based Patelco Credit Union, $3.75 billion in assets, pushed its way ahead of the pack when in 2001 it launched its browser-based mobile banking service.
Anthony Vitale is Patelco's assistant vice president of information technology development; he's been with the credit union for nearly 10 years, and says Patelco's vision for mobile banking has changed quite a bit over the last decade."
Mobile Banking: Guidance is Coming
"William Henley, senior vice president of regulation for BITS, says banking institutions can expect new mobile banking regs and guidance in the near future.
No question: Mobile banking's usage and growth have been mixed, with some early adopters jumping aboard quickly and others taking a more paced approach to mobile services. But there's also little doubt that mobile banking, and soon mobile payments, will play a key role in the way financial institutions interact with their customers and members."
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