The latest analytics from comScore Inc. indicate that the number of consumers using mobile online banking has increased 45% since one year ago. This staggering number is proving the shift to mobile technology use is growing, and most importantly, that consumers are beginning to trust mobile technology more as it continues to develop. Upon the initial introduction of mobile financial applications the majority of consumers indicated through various surveys and studies that they used mobile technology, but would not do so for banking or financial purposes.
Having a trusting consumer base has caused a massive growth in mobile banking, which could also mean big changes for gift card usage and receipt of employee rewards. Imagine getting a spot reward, gift card from your boss for doing well on a big project, and having it download right to your phone. Or having your year end bonus go into your checking account and being able to move that money around on your way to buy your holiday gifts. Mobile banking is changing the way people handle their money. How will it change your financial attitudes? Do you trust mobile banking?