IT Examiner School, Providence, RI

Primary Mobile Banking Issues

 Growing popularity of mobile banking and payments (among customers) has resulted in greater convenience, lower costs, and higher profits  Security awareness and better/stronger controls are needed to reduce the risk of compromise and fraud  If adequate security is not available, then it could undermine the use of mobile banking by consumers

Mobile Banking- Mobile Payments  Both mobile banking and mobile payments continue to grow; however, mobile payments already generates significant volume  Consumers that use one of them, will generally use both  More transactions increases the likelihood of being targeted- both users and devices  The low cost and high revenue potential offered by both will increase risk as a result of concurrent use