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June 30, 2007
Will you bank with your cell phone?
Although the number of people signed up for mobile banking is small at the moment, more large financial institutions are getting ready to introduce it, and the industry expects wide customer adoption of the service over the next five years. Newsday reports that mobile banking "is one of those things the whole industry is studying," because of the need for real-time information and convenience for consumers. Depending on the bank, consumers now have the option of either "Web-based" banking, downloading a software application or communicating directly with the bank via text messages. As new generations become comfortable with this method, mobile banking may become as ubiquitous as debit cards.
Posted by Enrique at June 30, 2007 09:38 AM