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Millennials like mobile banking, think technology is secure enough

Staff writer |
Millennials are adopting mobile banking at a much higher rate than their parents and grandparents.

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According to eMarketer's latest US mobile phone banking usage forecast, nearly 59% of 18-to-34-year-old mobile phone users in the country will access their bank, credit union, credit card or brokerage account via mobile browser, app or SMS on their phones at least monthly this year.

In contrast, fewer than 28% of baby boomer mobile phone users will use mobile banking in 2015.

Baby boomers have been slower to adopt mobile phone banking for several reasons. Many prefer to access their accounts using larger-screen devices such as tablets and desktops.

And while both millennials and boomers think banking via desktops is more secure than banking on mobile phones, that concern is not keeping millennials on the sidelines.

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