Security concerns are commonly cited as the reason for the lack of widespread adoption of mobile banking. But there is risk with every type of payment - lest we forget the growing list of recent major retailer and restaurant card data breaches.

With the rising number of mobile wallets by non-banks such as Apple, Google and PayPal staking their claim, banks need to be in the game. Financial institutions taking a mobile first approach may be the ones to finally push mobile banking forward.

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