Consumers in the US and UK are
recognising the convenience of mobile banking services, enthuses
US-headquartered mobile transaction service specialist mBlox.
Supporting this conclusion, results
of a survey undertaken for mBlox in March found that 25% of mobile
phone users in the US and 37% in the UK have adopted basic mobile
Quizzed on the greatest benefits of
mobile banking, 52% of respondents in the US and 46% in the UK said
they are the ability to access banking services anywhere, at any
time, convenience and time-saving.
Significantly, US respondents found
mobile banking more convenient and easier to use than telephone
banking by a margin of three to one, though in the UK the margin
was only 1% in favour of mobile banking.
The research also identified mobile
services consumers are most interested in using, though generally
none are fully fledged mobile transactional banking.
In both countries, respondents
rated notification services as their most favoured. These include
daily balance, suspicious activity, fraud alerts, low balance,
overdraft, and credit limits. Showing early indications of mobile
banking in its wider transactional sense, US respondents also cited
the ability to transfer funds between accounts as a key
The study highlighted two factors that may be slowing growth of
mobile banking services. These were security identified by 33% of
respondents in the US and 49% in the UK and cost by 31% in both the
US and UK.