{"id":884,"date":"2016-11-09T20:25:17","date_gmt":"2016-11-09T20:25:17","guid":{"rendered":"https:\/\/www.mobicint.com\/?p=884"},"modified":"2016-11-11T22:02:29","modified_gmt":"2016-11-11T22:02:29","slug":"mobile-banking-security884-2","status":"publish","type":"post","link":"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/","title":{"rendered":"The 6 Most Common Concerns with Mobile Banking Security"},"content":{"rendered":"

Mobile Banking Security is always ranked high on the mind of consumers in this day and age. The adoption of mobile banking is not immune to security concerns. \u00a0In fact, according to\u00a0the\u00a0Consumers and Mobile Financial Services 2016<\/a>\u00a0survey reported by The Federal Reserve this year,\u00a0concern about the security of mobile technology is a common\u00a0reason given for not using mobile\u00a0banking or mobile payments (73 percent and 67 percent, respectively, of non-users).<\/p>\n

Diving deeper into that survey, credit unions can get into the minds of their security concerned members and find out what exactly those concerns are rooted in. \u00a0Here are 6 security issues that Financial Institution members, who do not use mobile banking, identify as their main reasons for their concern, and the percentage of respondents from the Federal Reserve survey who ID’s it as their top concern:<\/p>\n

1. Someone intercepting my data or my phone getting hacked: 25%<\/p>\n

2. Losing my phone or having my phone stolen: 13%<\/p>\n

3. Companies (merchants, banks, third parties) Not providing sufficient security to protect my mobile transactions: 7%<\/p>\n

4. Someone using my phone without permission to access my account: 4%<\/p>\n

5. Companies misusing my personal information: 2%<\/p>\n

6. Malware or viruses being installed on my phone: 2%<\/p>\n

Member Education can go a long way<\/span><\/h3>\n

Although mobile banking still has many concerns among members, this technology is still being used more each year according to \u00a0Consumers and Mobile Financial Services 2016<\/a> “Use of mobile banking in the past 12 months by age”\u00a0(pg. 9). Financial\u00a0Institution \u00a0executives that recognize, and focus their education of non-mobile users to alleviate the top 6 concerns highlighted above, stand a better chance at winning new members and expanding their footprint into existing member’s financial lives.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mobile Banking Security is always ranked high on the mind of consumers in this day and age. The adoption of mobile banking is not immune to security concerns. \u00a0In fact, according to\u00a0the\u00a0Consumers and Mobile Financial Services 2016\u00a0survey reported by The Federal Reserve this year,\u00a0concern about the security of mobile technology is a common\u00a0reason given for…<\/p>\n","protected":false},"author":3,"featured_media":894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"yoast_head":"\nThe 6 Most Common Concerns with Mobile Banking Security - Mobicint<\/title>\n<meta name=\"description\" content=\"Knowing the 6 most common concerns with mobile banking security can help FIs educate their members and build confidence in using mobile banking apps.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The 6 Most Common Concerns with Mobile Banking Security - Mobicint\" \/>\n<meta name=\"twitter:description\" content=\"Knowing the 6 most common concerns with mobile banking security can help FIs educate their members and build confidence in using mobile banking apps.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.mobicint.com\/wp-content\/uploads\/2016\/11\/bigstock-145511699.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@Mobicint_tech\" \/>\n<meta name=\"twitter:site\" content=\"@Mobicint_tech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Preston Packer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/\",\"url\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/\",\"name\":\"The 6 Most Common Concerns with Mobile Banking Security - Mobicint\",\"isPartOf\":{\"@id\":\"https:\/\/www.mobicint.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mobicint.com\/wp-content\/uploads\/2016\/11\/bigstock-145511699.jpg\",\"datePublished\":\"2016-11-09T20:25:17+00:00\",\"dateModified\":\"2016-11-11T22:02:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.mobicint.com\/#\/schema\/person\/f786feecfea08c5681ffef291a67badf\"},\"description\":\"Knowing the 6 most common concerns with mobile banking security can help FIs educate their members and build confidence in using mobile banking apps.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mobicint.com\/mobile-banking-security884-2\/#primaryimage\",\"url\":\"https:\/\/www.mobicint.com\/wp-content\/uploads\/2016\/11\/bigstock-145511699.jpg\",\"contentUrl\":\"https:\/\/www.mobicint.com\/wp-content\/uploads\/2016\/11\/bigstock-145511699.jpg\",\"width\":900,\"height\":600,\"caption\":\"Smartphone or mobile tied chain with lock on wooden table gadget and digital devices. 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