Mobile banking 'more popular than popping into branches'

25 March 2010 — 2:07 PM

Mobile phone banking is proving popular.

It would appear that pushed-for-time Britons prefer doing a spot of banking over their mobile phones, rather than popping into their local branch to sort their finances out.

A new survey by mBlox reveals that 46 per cent of people in the UK think the convenience of mobile banking and the fact they can do it almost anywhere makes it a clear winner.

But while just three per cent of Brits admit their preferred choice is still going into a branch, security concerns and the cost of accessing the internet through handsets mean there is still potential for growth.

According to the survey, almost half of consumers have reservations about the security of banking via mobile phones.

Commenting on the findings, chief executive officer of mBlox Andrew Dark, says: "It’s clear from the findings of this survey that consumer behaviour is shifting to adopt the capabilities afforded by mobile banking."

After launching an Apple iPhone and BlackBerry application, ING Direct said it was the first Canadian leading direct bank to offer such technology.

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