Bank customers move to mobile services

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Bank customers move to mobile services

One in four bank customers would consider switching to a rival if they offered mobile banking services, a survey claims.

The survey, commissioned by Sybase 365, also found that banks appear to be listening, with some 34 per cent currently offering some form of mobile services to customers and an additional 32 per cent planning to offer mobile services during the next 12 to 24 months.

Mobile banking applications are moving beyond the ability to check an account balance or stock prices via a mobile device, the survey said.

Nearly three-quarters of banks said they provide customers with the ability to do money transfers and nearly 30 per cent allow customers to do bill payment via a mobile device.

Australian customers were also the most likely to state that their mobile banking services were either ‘secure’ or ‘very secure’. Over 80 per cent of Aussies surveyed said this was the case.

For other countries, Sybase 365 claimed that education, increased availability and usage would help dispel ‘misconceptions’ around the security of such applications.

“Customers’ mobiles devices can actually help improve security because they can be used as an alternative to PIN tokens for identification,” the vendor said in a statement.

“Mobile alerts can also be set up to notify customers of fraudulent activity on an account, enabling a rapid response leading to increased confidence for mobile services.”

The results are from “Mobile Banking: The Second Wave. Global Mobile Banking Survey 2008” commissioned by Sybase 365.
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