Why Has Mobile Banking Growth Stalled? Blame Hackers

After several years of dramatic growth, the adoption rate for mobile banking in the U.S. has slowed dramatically. Those who like to bank this way are doing it more often, but the industry is struggling to get more customers to go mobile.

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A recent report from the Federal Reserve (Consumers and Mobile Financial Services 2015) found that 52 percent of smartphone owners with a bank account did at least one mobile banking transaction last year. That's not much of an increase from the 51 percent reported in 2013.

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