Americans Wary of Mobile Banking

Sybase365.JPGResearch from Sybase 365 finds that Americans aren’t yet convinced that mobile banking is as safe and easy as internet banking. Many Americans are highly conscience of bank account numbers, with over 70% being able to quote their bank balances to the nearest $200. To keep numbers up-to-date, U.S. consumers check their balances frequently. 61% admit to checking their bank balances every few days. Hardcore customers, numbering 29%, require daily updates. (Only 3% have no idea how much they have in their accounts). Most of this account reassurance is done on-line but not on-the-move.

Banking in the United States is done in versatile ways, with 76% of customers using Internet banking to check up on bank account numbers. A surge in Internet banking is attributed to the convenience electronic banking gives people. But while 57% of Americans feel secure using Internet banking services like moving money between accounts, only 24% consider mobile banking to be secure. This insecurity may be due to the newness of mobile banking technology. 59% of Americans don’t even know if their bank has mobile services, which suggests that banks have to get the word out that mobile banking is available and safe.

Sybase 365 believes that despite poor numbers, in the near future the United States will embrace mobile banking services.

“Online banking is currently the number one way consumers check their account, but it didn’t become mainstream over night. Mobile banking is well on its way to gaining the same wide-spread popularity among consumers,” said Marty Beard, president, Sybase 365. “Consumers are already dependent on having many conveniences at their fingertips, and eventually that will expand to include banking abilities. Financial institutions will soon have to meet consumer demands and market mobile offerings to remain competitive.”

Sybase 365