Finance

Mobile banking on the grow

SmartCompany /

By 2012, mobile phones will be a mainstream tool for accessing banking services, according to a TowerGroup report covered by WebProNews.

According to the report, more than 40 million US consumers will use their mobile phones for banking by 2012, most of whom will be new to the practice.

“Consumers view their phones as trusted devices, even more so than their desktop PC,” TowerGroup chief analyst Bob Egan told WebProNews. “This perception will help fuel the adoption of mobile banking among non-online banking users.”

The TowerGroup also estimated that up to 30% of online banking users would start using mobile banking in the next five years.

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