Javelin Strategy & Research announces its latest research report — “Smartphone Banking Security: Mobile Banking Utilization Stalls As Consumers React To Security Issues”. With the explosive growth of smartphone ownership, zooming upwards of 40% since 2010, and constant buzz about such hot new technologies as mobile wallets for payments, financial institutions (FIs) expected that mobile banking growth would continue to skyrocket as well.
However, Javelin’s data reveals that mobile banking has actually plateaued. The Javelin report, based on surveys conducted with more than 13,000 consumers, examines this surprising trend, identifies the real reasons why more consumers aren’t using mobile banking, and presents the steps FIs must take if they want to engage more mobile consumers.
