News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Security at the heart of U.K. mobile banking fears
Is mobile set to revolutionize banking in the UK as much as the the industry itself purports? Not according to new statistics from security and credential management specialists Intercede.
It was only last month that the British Banking Association reported that a 'revolution' in banking was taking place in the UK.
Citing statistics such as download rates of banking apps hitting 15,000 per day and nearly £1 billion a day (US$1.7 billion) being transacted via mobile and Internet banking in the UK, it sure sounded like the British are whole-heartedly embracing new banking technology.
But new research from Intercede - 'The Rise of the Identity Centric Economy' - seems to paint a very different picture. Their survey of 2,000 UK consumers found that half (53%) said they would never consider using a mobile banking service. In fact, many said they avoid using any mobile financial services at all.
Half said they avoid mobile money transfers while a quarter (24%) would not feel safe shopping via a mobile device.
According to Richard Parris, CEO of Intercede, recent news of hacking and major security attacks are challenging consumers' trust in mobile security.
"This is throttling the mobile economy," says Parris. "But with the mobile device boom set to continue, it's clear that security needs a radical revamp."
Maybe it's an age thing? Apparently not. In fact, it was those aged between 18 and 24 that were the most distrustful of smartphone-based banking and financial services with 62% saying they would never use mobile banking.
Image via Shutterstock
- Top 3 social trends to watch in 2015
- Why clicks will regain importance in 2015
- Security concerns cause 23% of consumers to shop less online
- Mobile and online key resource for last-minute Christmas shoppers
- Third of consumers never pay full price online
- Online cash register bells will continue ringing on Christmas Day and Boxing Day
- Experts: App usage will change in 2015
- How data will influence 2015
Featured White Papers
- No Longer a Necessary Evil: How Modern CRM Empowers Sales
CRM has long been seen as a must-have sales tool. However, much of the value of traditional CRM accrues to...
- 7 Myths About Online Reviews
When it comes to building and maintaining trust in your brand, online reviews are an extremely valuable addition to your...
- Targeting (That's on target)
"Hopeful messaging is wasted messaging. Clear targeting means more than just Who. It also demands a knowledge of How, When,...
- Leveraging Facebook to Improve ROI on Brand Sites
Rather than deserting your brand site for a Facebook Fan Page, the best digital marketing strategies incorporate a Facebook presence...