[Voice of Kristin Arnold, Bankrate.com reporter]
Intro: There was a time when mobile banking meant using a bank's drive-through window. Now, mobile banking encompasses a number of technologies that allow consumers convenient, fast and secure ways to manage their money anytime - anywhere.
Take VO: Banking via mobile phones has skyrocketed in recent years, an October *report found that the percentage of mobile phone users utilizing mobile banking rose from 19 to 30 percent in the last 12 months. (*Javelin)
Take SOT: Claes Bell - Banking Reporter, Bankrate.com (2:33-2:55)
("Well, we're seeing mobile banking growth across all different age ranges, but right now in particular, people under the age of 35 - nearly half of them are using mobile banking, which is a much greater percentage than the other demographics. And really, that's because they've adopted smartphones much quicker. Smartphones have better mobile banking functionality, so you're seeing a lot more young people kind of gravitate towards mobile banking."
Mobile customers are accessing their bank in three basic ways, through SMS texts, mobile browsers and downloadable applications available in smartphone "app stores."
All three channels provide key features that make mobile banking useful to consumers.
Person-to-person payments allow consumers to instantly transfer funds to a friend's account at another bank.
Bill pay allows users to manage and control your bills online in just minutes.
No time to deposit a paper check? Simply open your banking app and snap a picture of the check using your smartphone camera ... and Voila! Your check is remotely deposited.
ATM locater - You can stop driving around trying to find your bank's ATM machine. Now, you can pinpoint the closest ATM via your banks locater app.
If your spending habits put you in danger of overdrawing your account or forgetting to pay your bill- a text alert can help you avoid overdrawing your account or when you need to make a payment.
If Taco Tuesday's are a mainstay in your weekly lunch schedule - your bank may reward you with coupons for frequent visits to a particular merchant - which can save consumers big at the register.
While mobile banking is making a lot of headway - there are still some worries among consumers about the safety of transactions.
Take SOT: Claes Bell (7:21-7:43)
("A study by Javelin Research earlier this year found that among those who were hesitant to adopt mobile banking, they're number one concern was safety and security. Now, that's not necessarily founded in reality. Banking via mobile devices can be just as safe as banking via a computer, which a lot of people are comfortable with, but the banks right now have a perception problem, as far as mobile banking goes ... that they're going to need to address.")
Tag: To learn more about mobile banking and how you can make it work for you, check out Bankrate.com's special feature on mobile banking.