Comments on: Americans Wary of Mobile Banking

By: Dave Lewis

Dave Lewis — Sun, 16 Sep 2007 19:19:51 +0000

I (and a coworker) wrote a mobile banking application in ‘99 and admittedly very few customers to this day have adopted it as a method of banking. But the fear of mobile banking security is misplaced. Especially when you consider that they seem less concerned about giving up their passwords for chocolate http://news.bbc.co.uk/2/hi/technology/3639679.stm

By: Sujit

Sujit — Sat, 15 Sep 2007 13:18:08 +0000

Intresting article. It is surprising that US banks, which have traditionally been first movers in technology, are yet to make mobile banking a mainstream service offering. The fear of mobile banking existed in our market too (Middle East), however with major banks having gone for mobile banking, it has come to a point where customers are demanding the service from banks that are late movers. From our experience of implementing mobile banking for different banks, the security fears are unfounded and can be addressed by compensating controls.

Check us out for our product BankSmart at http://www.acette.com. Also read the article http://en.wikipedia.org/wiki/SMS_Banking

By: Brandon McGee

Brandon McGee — Fri, 14 Sep 2007 12:12:55 +0000

John,

Good post. I’ll also add that 59% Americans don’t know if their bank offers mobile services because at this point 95% of banks in the U.S. do not. Today there are only a handful of institutions that are “live” with their solution and of those a even smaller percentage have a true marketing budget (i.e. Bank of America, Wells Fargo and Citi).

Thanks,
Brandon
http://www.brandonmcgee.blogspot.com

By: Thomas

Thomas — Thu, 13 Sep 2007 12:35:33 +0000

I get a daily update on my account balance from my bank by sms – that is pretty reliable and very mobile…

By: Alex

Alex — Thu, 13 Sep 2007 09:21:27 +0000

Interesting. Thanks for sharing, John.