We’ve been talking about the proliferation of mobile phones and the impact it is having on businesses of all shapes and sizes.

According to the Canadian Wireless Telecommunications Association (CWTA), 75% of Canadian households have access to a wireless phone, half of all phone connections in Canada are now wireless, and as of the end of last year, Canadian wireless phone subscribers numbered a whopping 22.8 million.

In the US, consumer surveys like Forrester’s Annual Consumer Survey  say that four in five US households now have a mobile phone. “While today these digital activities are constrained to the home and the office, in the next several years consumers will increasingly rely on a ubiquitous Net that is instantaneously accessible on a wide variety of devices, from mobile phones to laptops to new form factors such as eReaders,” Forrester concludes.

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Technology is allowing the banking industry to provide their customers with the ability to proactively manage their personal finances anywhere, at anytime, through their mobile devices.

For example, our mobile banking solution lets the bank’s customers access their accounts, provide payment and transfer of funds, and search for nearby automated teller machines or branches - all from their mobile phone.

On the security front, it also gives the bank the ability to communicate back to their customers to alert them of activity on their bank account. In marketing, it allows promoting special offers where applicable.

People often ask if they need to be with a specific wireless carrier to have access to mobile banking. Good news: despite the wide array of mobile devices and services providers, the mobile banking solution ensures customers are compatible and covered regardless of the mobile phone manufacturer, model, wireless carrier or operating system.

While I am always looking for ways to maximize my time balancing work and home with little ones, I think I might need some additional convincing when it comes to mobile banking. Some questions arise as I envision myself mobile banking on the GO train on my way into work - primarily privacy related - such as what if I lose my phone? Will my banking information be accessible by whoever finds it? But to have my bank communicate with me in this new way is appealing, especially if it saves time.

Join the conversation. Are you a mobile phone banker?  Would you do your banking through your mobile phone if you had the option?

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