Thursday, December 22, 2005

More MocoNews on the BT mobile banking in the UK report

There’s a fair bit of desire f0r accessing banks on mobile phones…“According to research published on Wednesday by the Henley Centre, commissioned by BT, 39 percent of respondents aged between 25 and 44 deal with their finances when they’re on the move, on their way to or from work. Respondents aged 18 to 24 are clamouring even more for mobile banking, with a preference for text alerts and SMS banking.”This is different from using mobile phones in a similar manner to credit cards… and my first thought is that there are a significant number of security issues with banking via mobile phones, and the technology to fix them is not yet widespread, although it will be in a few years. Then I remembered South Africa already has mobile banking, although I’m not sure how secure it is nor how it compares to other bank accounts in terms of features.Personally, I would restrict mobile banking to preordained tasks, such as “send me my balance” or “make my normal credit card payment”.The big thing the article brings up is the relationship the bank has with its customers. Communication via mobile messaging could improve that relationship to the benefit of all concerned…

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