What’s to Worry About Mobile Banking?

by Jason Unger

Mobile banking only continues to grow, with new apps launching every day, and banks making it easier and easier to do business on your smartphone.

With that in mind, GOBankingRates wanted to find just how comfortable people are banking on their smartphones — and what concerns they have.

The results are pretty interesting.

After polling nearly 800 Americans, they found that people’s biggest concerns about mobile banking are …

  • None! I have no major concerns: 43.7 percent
  • Identity theft: 37.35 percent
  • Technical errors: 8.75 percent
  • Misuse of information by companies: 7.18 percent
  • Lack of paper documentation: 3.02 percent

It’s encouraging to no that “none” is so high. The more comfortable people are banking with new technology, the quicker it’ll grow and the more banks will invest in it.

GOBankingRates breaks down the responses by demographic, and there’s not too much of interest. The only flaw I see in the survey is that the five concerns were the only options given to respondents; there was no way to respond with a different answer. And if something┬álike “security” was an option, it’d likely be toward the top (if not the top) response.

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