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Smartphones Driving Mobile Banking

The adoption of mobile financial services is dependent on device technology and 3G networks, according to a new report from comScore. The study looked at how mobile users access their banking accounts and found mobile Web browsing to be the most popular way for both smartphone (44.1%) and 3G users (53.3%), followed by mobile applications (48.1 % of 3G users and 40.6% of smartphone users.

U.S. Consumers Avoiding Mobile Banking

U.S. consumers think mobile banking is important but do not want to pay for it and are hesitant to use their mobile devices for financial transactions and online banking, according to a survey by accounting firm KPMG. The survey of about 500 U.S. consumers found the majority (91%) had never tried banking on a mobile device. Of those respondents who have never done banking on a mobile device, 48 percent said security and privacy were the main reason.

More People Comfortable With Mobile Banking

Mobile phone users are becoming more comfortable making banking and purchase transactions while on-the-go according to a new study from Harris Interactive.The study found that 16 percent of mobile phone subscribers currently use mobile banking services, with 60 percent doing so at least once a week. Thirty-five percent of those who do not use mobile banking or buy on-the-go are interested in checking bank account balances and transferring funds using their mobile devices. Thirty-three percent said they would like to receive text messages from their banks.

Mobile Banking Set To Increase By 2010

By 2010, 35 percent of online banking households will be using mobile banking, up from less than 1 percent today according research firm Celent.Mobile banking will be appealing to 18- to 25-year-olds, or Generation Y. They will be early adopters of mobile banking with 40 percent indicating that mobile services will be a factor in their choice of bank.

Mobile Banking Set To Take Off

Over 40 million U.S. consumers will use their mobile phones for banking by 2012, up from around one million in 2007, according to TowerGroup's "Mobile Banking Evolution: Issues and Considerations for 2008" report.

Bank of America Launches Microsite

Bank of America Corp. has launched its "Bank the Way You Live" mircosite today in an effort to attract customers who want to do mobile banking.