21% of young US consumers use cell phones for banking

21% of consumers ages 18-34 use their cellphones for banking transactions, compared with about 10% of the general population. Aite Group predicts that mobile-banking users in the USA, having ballooned from a negligible number at the end of 2006 to 1.7 mln by the end of 2007, will rise to 8 mln by the end [...]

21% of consumers ages 18-34 use their cellphones for banking transactions, compared with about 10% of the general population. Aite Group predicts that mobile-banking users in the USA, having ballooned from a negligible number at the end of 2006 to 1.7 mln by the end of 2007, will rise to 8 mln by the end of 2008. By 2010, Aite Group forecasts, 35 mln Americans will be mobile-banking users.