Mobile Banking “More Popular Than Phone”, Security Biggest Worry

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A recent poll of US & UK mobile phone users has concluded that mobile banking is now used by over a third of UK mobile phone users, and that mobile banking is now seen as (marginally) more preferred than banking on the phone.

Interestingly, branch banking was only the preferred method for 3% of the 1,000 UK respondents.

The survey was conducted by mBlox, a “mobile transaction network”, who will naturally have an interest in the promotion of mobile banking, no doubt.

The top services provided by mobile banking, as rated by the respondents were:

  1. daily balance notifications
  2. suspicious activity notifications
  3. fraud alert notifications
  4. low balance, overdraft, and credit limit notifications

The biggest worry was security, which concerned almost half of UK mobile users, whilst costs were also high on the list of concerns.

Creative Commons License photo credit: Johan Larsson

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