Mobile banking is drawing significant interest from existing online banking users aged between 16-34, according to newly published research from industry analyst Forrester.
The study showed that 51 per cent of UK internet users would be willing to try such a service, and a quarter of internet users would be tempted to switch to a new bank if it offered mobile facilities.
The research, conducted for mobile banking firm Meridea, discovered that nearly one third of those surveyed already regularly browse the internet from their mobile phone, and 60 per cent would be able to access mobile banking services on their existing handsets if it was available.
'Heavy' mobile phone users, identified as those who spend more than £30 per month on mobile calls, are three times more interested in mobile banking, underlining expectations that users familiar with mobile and internet technologies would be the early adopters of this channel.
The driving factors for mobile banking services are features allowing users to check account balances, receive warnings when their account goes overdrawn, freeze a card and make payments or transfers.
However, more than half of those surveyed listed transaction cost, security and ease of use as potential concerns about mobile banking.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago