There are a variety of reasons why some consumers may be hesitant to bank on mobile. Security concerns topped the list of reasons why smartphone users didn’t use the platform, with 47% of respondents stating that they did not trust the security of a mobile phone for banking transactions. The simple preference for managing finances on other channels also was a major barrier to mobile banking adoption, as a significant number of smartphone users preferred to speak with a representative or utilize a bank’s website via the desktop. Read the rest at eMarketer.
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