For the second time in roughly 80 years, the people of the United States have come to see their banking system in a new and not so flattering light. But apart from the doom and gloom of the current financial crisis, another new light is shining on the banks. It’s called mobility.
Banking, in the form of remittance, money transfers, bill payments, commerce and other financial transactions, quickly is going mobile thanks to driving forces across the financial and credit communities, software providers, e-commerce companies, device manufacturers and mobile network operators. And, oh yes, there is a growing willingness on the part of consumers to engage in mobile commerce using their wireless device of choice.
Recent research conducted by MQA Research and commissioned by Fiserv, an information technology service provider to the financial industry, shows that 75 percent of consumers surveyed in April were willing to conduct mobile banking services. That’s a 26 percent jump from two years ago. Not surprising, the 21-to-34-year old demographic was even more emphatic. Eighty-three percent said they were willing. An even higher percentage were willing to receive alerts and messages from their financial institution regarding password changes and other account activity.
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