Scared of mobile banking

Some banking customers are reluctant to go mobile because of fraud and security concerns.

More than a third (36 per cent) of 1,000 consumers quizzed in a survey said they didn’t use mobile banking. Three out of four of these refuseniks (74 per cent) cited security as the major reason.

Security concerns could slow the overall adoption of mobile banking services during a time where mobile device usage is exploding, according to survey sponsors Kaspersky Lab.

Self-service banking usage can drive revenue and reduce transactional costs for banks, hence the push towards consumers to go mobile from financial service firms. More details of the research into mobile banking can be found in an IDC white paper here [PDF]. ®