Security Doubts Hamper Mobile Banking

By Tom Score

A lack of trust in mobile phone security is the top inhibitor to mobile banking enrollment, according to a recent survey. In June 2013 polling by Celent of U.S. internet users who have not adopted mobile banking:

• 47% of respondents cited doubts about security

• 41% said they preferred internet banking

• 37% said they preferred to call or visit their bank, and

• 18% said keyboard entry was too difficult on their mobile phone

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