Mobile Banking Updates - June 27

Is Mobile Banking Safe? "
Arxan CEO Mike Dager on the emerging threat to mobile devices and banking apps."

The Rise of Mobile Technology in Higher Ed
"Between the ever-expanding popularity of tablets and the continued rise of smartphone ownership, all evidence points to an unabated focus on the adoption of new mobile devices and innovative technologies. According to a study by the Online Publishers Association, smartphone owners have increased by 44 percent between 2011 and 2012 and that figure is expected to increase to 57 percent during 2013. As mobile device adoption has increased, so, too, have the number of new applications. From mobile banking to real-time entertainment, there's seemingly no end to what Americans have come to expect from their mobile lifestyles. And, higher education is a market where mobile technology is playing an especially prominent role."

M-commerce transactions to reach $3.2 trillion by 2017, says Juniper
"Mobile commerce transactions are forecast to exceed $3.2 trillion by 2017, up from $1.5 trillion this year, according to the latest research from Juniper Research. This projected increase will be fueled by mobile banking, which will account for the "lion's share" of transaction value over the next five years, the research firm estimated."

Survey: Rising Willingness to Pay for Enhanced Mobile Banking
"New research from Boston-based financial services consulting firm ath Power underlines the immense popularity with consumers of mobile remote deposit capture ('the most sought after mobile banking feature,' said ath Power executive Michael McEvoy) and it also claims that there is rising consumer readiness to pay fees for mobile banking. In last year’s ath Power survey, 81% of respondents said they would not pay for mobile banking. This year, said McEvoy, that number dropped to 68%. That means about one in three say they might pay for the service, stressed McEvoy."

Grappling with the mobile money conundrum
"There is little doubt that mobile banking, mobile commerce, mobile money — pretty much any financial service preceded by the word "mobile" — are generating an outsized amount of hype. But all that hype is not reason to discount the very real impact that mobilized financial services are going to have on banking. A new publication called "Mobile Banking: Financial Services Meet the Electronic Wallet," sums it up the state of the industry succinctly:"