Security risks and low awareness level remain the biggest hurdles for mobile banking to gain mainstream acceptance.

A new survey says that American consumers are quite obsessed with their finances compared to other nationalities like Canada, Mexico, Brazil, and Argentina. More than half of check their balances every few days. This is the chink many mobile banking enthusiasts are eagerly waiting for dominate.




However, only 24% believe mobile banking is secure and 59% are not aware if their bank offers mobile banking services.

The key? Conduct massive customer awareness campaign to encourage trial and hopefully gain mass acceptance. Apparently, mobile banking is following the same challenges encountered by online banking during its early stages. Will it succeed? I guess it's too early to tell.