Why People Don’t Use Mobile Banking, June 2013 [CHART]

Chart - Why People Don't Use Mobile Banking

Consumers are centralizing more of their lives around their mobile devices. That often means keeping a great deal of sensitive personal and financial information in one place, posing risks for both consumers and financial firms, according to a new eMarketer report, “Privacy and Security in Financial Services: Reconciling Safety with Convenience in an Always-On World.”

It is understandable that many consumers are still getting used to mobile finance—just as they had to get used to banking and shopping online a decade ago. In June 2013 polling by Celent, lack of trust in mobile phone security ranked as the top inhibitor to mobile banking adoption. Read the rest at eMarketer.