Mobile Banking, Fraud Monitoring Among The Top Issues

JERSEY CITY, N.J.-Interest in mobile business banking is growing, fraud monitoring is biggest challenge in payment processing and the usefulness of social networking in business banking remains undecided.

Those were the findings of live polling during a recent client conference for Fundtech, Ltd. Among the findings:

• 39% of respondents will be deploying mobile business banking services within six to 12 months.

• 53% said fraud monitoring is their biggest challenge in payment processing.

• 23% think adding social networking to business banking is a "ridiculous idea."

• 10% said they have already deployed mobile business banking services.

• 39% said they will be deploying mobile services within six to 12 months.

• 57% of American banks are expected to offer a solution by the end of 2010.

• 26% of respondents said that there is strong interest in mobile business banking services among their clients.