Banks should demonstrate how they successfully manage sensitive data

Bankers tend to think of security as an IT concern. But the recent leveling-off in mobile banking transactions suggests that security worries are a barrier to growth…

A 2014 poll conducted by GoBankRates found the two biggest fears about mobile banking were identity theft and corporate misuse of information. Thirty-seven percent of consumers said they feared identity theft and 7% cited potential misuse of personal data. Older consumers were most concerned with identity theft. Although frequency of use among mobile banking customers is increasing, mobile penetration will not go much higher until these fears are addressed. Consumers are right to be worried…



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