The future of mobile banking
The biggest hurdle to widespread adoption of mobile banking, of course, is consumer concern about security. Financial services firm KPMG says two-thirds of Americans aren't "comfortable" using cell phones for financial transactions. (Of course, everyone is comfortable with letting a restaurant waiter take physical possession of their credit card for 10 minutes.)
But that's mainly an age thing. Young people aren't so timid. The use of mobile banking has tripled in the past year among young adults in the U.S. Some 21 per cent of Americans between the ages of 18 and 25 are doing banking via cell phone, according to a survey by Mercatus LLC.
Research firm TowerGroup says 10 million people now do mobile banking, but that the number will rise to 53 million over the next four years.
If you know where to look, there is incredible innovation happening in the banking space, especially in how customers interact with banks -- and their money.
Now if only the economy would cooperate, there might actually be some money to move around and the whole experience of banking just might become something interesting and enjoyable.