(C)WAP is a waste of time for mobile banking and too slow for most uses and will just lead to pain and suffering by both consumers and banks, not the least because of security, but by all means try and prove me wrong. - it's only your customers' money after
all.
"Consumers wishing to enroll in mobile banking should be allowed to sign up for the service using the very device they will use to bank: their mobile phones," says the report.
We can sign up millions of customers simultaneously using their mobiles, not necessarily using the web, but using the TV instead.
Mobile banking will be just like ATM usage - balances. You won't need the cash because you can use it for transactions instead of cash (except WAP is too slow for that).
Javelin says banks need to research and implement encryption, multi-factor authentication, automatic time out and remote deactivation in order to convince customers that mobile banking is safe.
Didn't they already try that with the PC? (way smarter and more powerful than a phone - fail!) Who paid for that line, RSA?
Mobile banking is safer than PC banking from inside No 10 or the Bank of England or even in person in your local bank branch. Just not the mobile banking the customers are seeing yet...