Moving Forward

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In this day and age technology has become a major part of our lives. Nearly everyone you see has some type of smart phone or PDA. This trend may be a little shocking for some of the older generations, but for my generation and below, it is the norm. I have had a cell phone since I was in high school, but my younger sister on the other hand got hers when she was in 3rd grade. Many people in my age group, the 20-somethings, do everything on our smart phones; we can even go as far as hanging out together via FaceTime. (Sad, I know). I believe that is why we do not even think twice when it comes to mobile banking. The overall convenience of it totally outweighs any type of reservations we might have. As I have read more about mobile banking technology, and the reluctance of the older generations to get involved, it has made me wonder, is it really safe? If so, why isn’t everyone doing it? 

As I dug deeper to find answers, I found a great article that addressed this question. Mobile banking is gaining customer confidence because of three main factors. First, when you do a mobile banking transaction it is linked directly back to your specific mobile device. This lowers the overall risk of doing the transaction. Second, you are able to access real time information on potential fraud via text messages, or other forms of communication provided by the bank. Third, enabling your GPS settings can limit the amount of potential fraud because it allows banks to see where you are when a transaction is made.  

Upon answering my first question, I was able to stumble upon the answer to my second question. In the same article, there were some great statistics about the percentage of people who do take advantage of mobile banking. 84% of Americans use their phones on a daily basis to do the following activities: Social Media, Texting and Talking, Watch TV, Email, and Banking. 1 in 5 smartphone users claimed to use mobile banking. According to this article, 1 in 3 users are expected to participate in mobile banking by 2013. This is where a huge generation gap is present however. 44% of the mobile banking users are made up of the age group of 18-29 year olds. Only 6% of users 60+ years of age take part in this trend.  This whole generation gap is actually somewhat shocking when you really take a look at it.

Looking back just 10 years, it is amazing how different the technology was. In the year 2002, wireless headsets were just invented. Now days, in quite a few states, it is pretty much illegal to drive a car without using some type of hands free device. As technology trends change, it is so important that you do not get left behind. What is the most interesting thing to me however is the fact that it is becoming nearly impossible to get left behind. The question is, will things stay this way for a while, or will we be constantly trying to catch up to the new trends? I guess only time will tell. 

 

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2000                 2012 

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2000 Apple Laptop

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              2012 Apple Laptop

 

 

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