Survey shows mobile banking yet to catch on in U.S.
April 8, 2009
American consumers typically strive for the most convenient services, but a new survey has found that a majority of U.S. consumers have never tried mobile banking through their wireless devices.
Through the power of the growing availability and speed of wireless broadband connection, Americans are increasingly using their cell phones and other mobile devices to watch video, surf the web, or send texts and emails. But the security of data sent over these networks is a concern for many, the survey shows.
KPMG's third annual global consumers and convergence survey, which examines trends in the use of mobile technology, revealed that 91 percent of U.S. respondents said they had never tried banking through a mobile device.
Of those who have not conducted banking through a mobile device, 48 percentsaid security and privacy was the primary reason, according to KPMG.
"The fact that the majority of U.S. consumers are not aware that their current banks offer mobile banking is clearly more perception than reality," said Carl Carande of consulting company KPMG.
Despite their concerns, 19 percent of consumers said they are at least "somewhat likely" to use their mobile device for online banking in the next 12 months, the survey found.
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