Take The Money And Run

TAKE THE MONEY AND RUN MOBILE BANKING ON THE GO While your bank can't travel around in your back pocket, your mobile phone can. It is probably always with you, in fact. Today, more people are recognizing the growing number of features financial institutions offer their customers. THE RISE OF MOBILE BANKING 11.3 million 2010 2013 200 M 9% 400 M In 2010, 9% of consumers believed that when opening a new checking/savings account that free mobile banking was About 10% of U.S. households engage in mobile banking today. That's an estimated The number of worldwide mobile phone users who perform mobile banking is projected to double from 200 million in 2010 to 400 million in 2013, 11.3 million households out of the total important to them. 112.6 million U.S. households according to Juniper Research. WHAT DO BANKS OFFER? ШI ! 83% 54% 40% 32% 32% of financial institutions that offer banking through mobile applications also offer Bill Pay functionality via these apps of the top 100 financial institutions in the U.S. offer some sort of mobile banking of them now offer banking services over the mobile Web, accessible by smartphones offer downloadable offer banking services and/or alerts by text messages apps for smartphones SECURITY IS A MUST WITH MOBILE BANKING 1.7% of U.S. banking customers say of U.S banking customers say they don't trust the security of mobile banking applications they prefer to use mobile banking for routine transactions 51% 1.7% THE MOST POPULAR BANKING APPS AVAILABLE ON #1 Bank of America AVAILABLE ON # 2 CHASE O AVAILABLE ON #3 WELLS FARGO AVAILABLE ON # 4 A USAA AVAILABLE ON #5 D Bank FOLLOW THIS CHECKLIST TO CREATE A SAFER MOBILE BANKING EXPERIENCE TIP1 V TIP 2 V TIP 3 V Set a strong password for your bank account that is not duplicated anywhere else. itself. There are many apps that look like they are official but these could be phishing or malware apps. Not all banking apps are created equal. Make sure that the developer of the app is the bank When banking online from your mobile phone, make sure you are using your phones network or a secure WiFi connection. Also, check the site to make sure it is secure HTTPS and you see the lock symbol. TIP 4 V TIP 5 / TIP 6 V Check your bank statements A Remember to log out completely from any app or website after you're done. Only download banking apps from official app frequently for any unusual activity. stores such as the Android Market and the iTunes store. MOST COMMON MOBILE BANKING ACTIVITIES CHECK BALANCE CONFIRM A DEPOSIT TRANSFER MONEY 1% 3% 17% PAY BILLS ONLINE VIEW STATEMENT RESEARCH A CHECK 22% 49% 54% DOWNLOAD ACCOUNT ACTIVITY EMAIL CUSTOMER SERVICES OPEN A NEW ACCOUNT 54% 70% 93% THE FUTURE OF MOBILE BANKING AND SHOPPING FACIAL ID SYSTEMS Mobile banking has a safer future when security goes beyond the simple use of password protection; speculative features make it so you can only access your account on your mobile phone when the phone's camera verifies that you're the one trying to access it. MOBILE SCANNING FINGERPRINT ID SYSTEMS A new feature that a few mobile banking apps With advances in touch screen are starting to adopt in the mobile app world is the ability to pull out a check, take a photo of it with your phone and upload the image through your bank's mobile app. Say goodbye to ATMS. technology, one day you may also be able to scan your fingerprint to check identity. alookout TH SOURCES : NPR.ORG, | MARKETINGCHARTS.COM | BANKRATE.COM | QUICKFACT.CENSUS.COM | COMPETEINC.COM | INVESTINGANSWERS.COM | STIELORG | ATLANTAPOST.COM | JUNIPERRESEARCH.COM | ABIRESEARCH.COM | EBAYINC.COM MOBILE SECURITY