Mobile Banking Updates - Aug 1

How to Get With the Mobile-Banking Program
"Don't fear mobile banking. More consumers are buying smartphones, but they're not embracing mobile banking at the same pace -- mostly because they have a misplaced fear of it, according to several studies by research firm Javelin Strategy & Research. In 2009, 26% of smartphone owners were uncomfortable using their phones for banking. A year later, that number jumped to 40%, according to the firm."

Is Mobile Banking Right For You?
"The number of customers using mobile banking is soaring. In fact, it’s expected to double in the next four years. Currently, about 38 million Americans use their smart phone to help them take care of their financial affairs. They say they like it because it makes banking easier when they travel, or when they quickly want to check a balance or make a transfer."

Mobile Banking Trend Surges across the Globe
"Move over cloud and converged communications as there is a new big shot trend in the tech space right now – mobile banking.

Mobile banking, which allows for consumer purchases to be made through smartphones, is on its way to becoming the "new norm.” In fact, recent research from TNS (News - Alert) found that more people than ever are turning to their beloved BlackBerrys and Androids to access financial services."

Quantifying the value of mobile banking
"A recent report from KPMG assesses how the global financial community is responding to the adoption of mobile banking and mobile payments. The report is overwhelmingly positive and highlights some interesting points about the rapid developments in this innovative space.

KPMG states that most large banks and many mid-size banks already offer some form of mobile banking service. It supports this with the statistic that almost two thirds of respondents to its survey indicated that mobile banking is either already mainstream or on the verge of gaining traction."

2 out of 5 Mobile Banking Users in Canada Use iPhones
"An analysis of mobile banking in Canada using the recently debuted MobiLens Canada service reveals 11.1 percent of Canadian mobile subscribers accessed banking information in March 2011. Among this group, more than three-fourths were using smartphones. Apple iPhone users accounted for more than 2 out of 5 mobile banking users, followed by RIM BlackBerry users."