Latest phones 'could see more banking options'

30 January 2009 — 1:45 PM

Banking using the latest mobile phones could soon see the level of success that has been enjoyed by online services, one expert has suggested.

A spokesman for the Mobile Marketing Association (MMA) said this week increased adoption by a number of financial service providers would lead to better security and a stronger level of uptake from consumers.

Commenting on the launch of a new resource which focuses on mobile banking, chief executive of CellTrust and Mobile Banking Sub-Committee's MMA co-chair Sean Moshir predicted the level of growth could mirror that of current web facilities.

"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 noted.

Earlier this week, Barclays announced it had enhanced its mobile banking services, stating that in addition to easier access to statements and balances, customers could also take advantage of free security software.

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