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
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