Some consumers unaware of mobile banking services
Financial institutions might need to do a better job marketing their mobile banking capabilities, because a recent survey from BuzzCity suggests consumers are unaware they can conduct simple bank inquiries on their phones.
BuzzCity, a Singapore-based mobile advertising network, surveyed some 6,000 consumers across 20 countries and found 26 percent of respondents were unaware of whether their bank offered mobile services, and 29 percent said they do not think their bank offered such capabilities, according to a press release.
Consumers also appear unaware of what they can do on their mobile phones, as 31 percent said they were sure they could not conduct banking transactions in such a manner, BuzzCity said in a statement.
Of those respondents who do use mobile banking services, 31 percent said they find it easy to use. Security concerns are not as big an issue in this year's survey, as 19 percent of respondents feel unsafe about using mobile mobile banking, down from 34 percent in 2013.