Can we bank on our phones (literally)? Experts say, yes. Here's why!

1. Is it safe to bank on our phones?

2. As discussed by Sidney-Eve Matrix in her course Digital Media Theory, FILM 315, A rising trend of mobility is IMMEDIACY

3. We are “moving at a greater velocity due to mobile and social technologies…

4. we want our data and our connections at hand, in real time…NOW.”

5. Through the use of Apps this ideal can occur.

6. In 2010, over 3,000,000,000 Apps were downloaded

7. In 2013, an estimated 29.5 billion dollars will be spent on Apps

8. These Apps immediately connect us to:

9. socialnetworks (nearly 60% of the time people spend on mobile internet is spent on social media sites)

10. E-mail

11. And can even be used topay our bills.

12. 9% of Canadian consumers have a mobile banking account 20% plan to start using one within the next year

13. So why is managing money on a mobile phone a growing trend?The #1 reason to mobile bank is…

14. It can be done anywhere at any time“Research suggests that consumers in this country would prefer to check their bank balances, transfer money, or pay their bills while sitting on their morning train commute or standing in line at the coffee shop rather than at their office or home computer.”

15. But as we embrace efficiency and immediacy…

16. Are we neglecting safety?

17. 10% of Roger’s customers lose their cell phonesper year

18. Thus, there is a 1 in 10 chance that your smartphone, with all your banking information, could end up in the hands of a stranger.

19. "It's slightly more risky, similar to using a laptop at Starbucks," said Charlie Miller, a principal analyst at consultancy Independent Security Evaluators. "The biggest difference is you are carrying the thing around with you and are more likely to lose physical custody of it than a computer."

20. What can you do to be more cautious while banking on your phone?

21. “Mobile users should use their device PIN codes, download mobile apps only from their financial institution, switch Bluetooth off when not in use, and avoid lending their phone to strangers to minimize the chance of someone downloading a malicious app onto the device.”

22. “Mobile banking is secure and there's not really any cause for concern”said Holland of Aite Group.

23. “This is the way of the future” said Sonia Baxendale (head of CIBC’s consumer banking)

24. Do YOU access your bank accounts on your smart phone?

25. Thanks for viewing! This slideshow was produced for Queen’s University’s summer correspondence course, FILM 315s, as taught by Sidney-Eve Matrix For more information visit www.film315s.com

26. References: Slide 1 Photo source: “skettalee” via Flickr Slide 2Source: Sidney-Eve Matrix’s FILM 315 podcast on “Mobilities”photo source: “JonJon2k8” via Flickr Slide 3 Source: Sidney-Eve Matrix’s FILM 315 podcast on “Mobilities” Photo source: “sue_photographic_lover” via Flickr Slide 4 Source: Sidney-Eve Matrix’s FILM 315 podcast on “Mobilities” Photo source: “property of- me” (via Flickr) Slide 5 Photo source: “Daniel Y. Go” (via Flickr) Slide 6 Source: Sybase Inc’s Youtube channel Photo source: “Josh Bancroft” (via Flickr) Slide 7Source: SybaseInc’s Youtube channel Photo source: “Stryler” (via Flickr)

27. continued… Slide 8 Photo source: “garryknight” via Flickr Slide 12 Source: Ready to bank on your smartphone? By Tara Perkins and Iain Marlow in The Globe and Mail Slide 13 Image Source: “redspotted” via Flickr Slide 14 Source: direct quote from Ready to bank on your smartphone? By Tara Perkins and Iain Marlow in The Globe and Mail Photo source: “WillyG” via Flickr Slide 15 Photo source: “lokiv7” via Flickr Slide 16 Photo source: “chriscampbell” via Flickr Slide 17 Photo source: “cote” via Flickr Slide 19 Source: direct quote from “Mobile banking: Safe, at least for now” by Elinor Mills Photo source: “titojuan” via Flickr

28. continued… Slide 20 Photo source: www.usfst.com via Google Slide 21 Source: direct quote from “Mobile banking: Safe, at least for now” by Elinor Mills Photo souce: “sally henny penny” via Flickr Slide 22 Source: direct quote from Ready to bank on your smartphone? By Tara Perkins and Iain Marlow in The Globe and Mail Photo source: “fotobananas” via Flickr Slide 23 direct quote from Ready to bank on your smartphone? By Tara Perkins and Iain Marlow in The Globe and Mail Photo source: “eleda 1” via Flickr Slide 24 Photo source: “MilicaSekulic” via Flickr Slide 25 Photo source: Submitted on weheartit.com by Anonymous