Consumer Comeback Blog

The Bank in Your Pocket: Mobile Banking is on the Rise, and it’s Safer than you Think

In a world where the smartphone is king of the mobile gadgets, it’s not surprising that people use their beloved smartphones for just about everything—from checking the weather to navigating the city to sending important email. The smartphone is also beginning to rise rapidly to a new, powerful role: A mobile bank. Managing money on the go and at the tap of a button is appealing to many people, and avoiding lines at the bank is also a plus. But for many who have access to mobile banking, putting trust into a smartphone can be a difficult task. Many people remain skeptical of the level of security that a smartphone can provide, and a bank account is certainly something that needs to stay secure. What many would-be mobile money managers don’t know, however, is that most experts believe banking via smartphone is actually much safer than other forms of remote banking. Smartphone banking systems allow users to combat fraud more actively and efficiently, and even to stop fraud before it starts in some cases. A projected 1 in 3 mobile users will be relying heavily on their smartphone for banking by 2013, and the following infographic examines the idea that, if you’re not already doing some mobile money managing, chances are you will be soon.

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Mobile Banking Infographic

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