Mobile banking 'set to be a success'

Posted: 30 January 2009

The number of consumers using their mobile phones for banking purposes will grow as the industry increases adoption of the platform, it has been suggested.

Commenting on the launch of a new educational resource focusing on the facility, a spokesman for the Mobile Marketing Association (MMA) said increased levels of security and convenience could mean more options for consumers.

Sean Moshir, chief executive of CellTrust and Mobile Banking Sub-Committee's MMA co-chair, said the growth of services could mirror the successes seen by the online banking sector.

"We believe that mobile banking will parallel the Internet era in many aspects, leading consumers and financial institutions alike to become more comfortable with mobile transactions," he added.

This week, Barclays announced it had improved its services to include a dedicated site accessible through portable cellular devices. In addition, the group was offering free security software to those who signed up.

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