Americans don't necessarily trust mobile banking technology and are not the most adept at using mobile in ways that better protect their financial data and that maximize digital banking services.
That said, mobile banking is certainly growing on financial services consumers.
According to KPMG's Global Mobile Banking Report and UBS Evidence Labs, the number of mobile banking users globally is forecast to double to 1.8 billion over the next four years, representing over 25% of the world's population according to KPMG.
Yet in a recent survey from MyBrankTracker.com, only 6% of respondents "trusted mobile technologies for their banking needs and financial transactions."
While banks and other financial institutions can always do a better job of protecting their mobile customer's data, a good chunk of the "vulnerability" blame game lies with mobile users themselves.
MyBankTracker does a yeoman's job of listing some of the most common (and costly) mistakes mobile banking users make on a regular basis.
Exhibit A - using mobile banking apps over public WiFi.
"Information sent through a public hotspot isn't encrypted, so other network users can access your activity," says Alex Matjanec, co-founder and CEO of MyBankTracker. "If you're using an unsecured Wi-Fi network, anything you send into cyberspace is there for taking for hackers. If there's no way around public WiFi, access your bank through their website on the Internet as long as it's encrypted as opposed to the bank's app."
Other experts also stress the importance of being patient and avoiding unsafe WiFi that may be available at a particular moment.
"Consumers connecting to free, open and insecure WiFi are at the highest risk of fraud," notes Robert Siciliano, an identity theft expert with BestIDTheftCompanys.com. "It's wise for consumers to either wait until they are on a secure network or deploy a virtual private network software (VPN) prior to doing any online mobile banking."
Another mobile banking no-no - storing your payment or login information on a mobile banking or shopping app.
"Storing your information is a good way to invite someone to steal your password or hack your debit and credit card numbers," says Matjanec. "If you use multiple cards to pay when you shop online, a smarter option is to use a mobile wallet like Apple Pay or Android Pay. If you're not comfortable using one of these apps or you just don't have a compatible device, you want to make sure you're logging in manually every time and logging out when you're done."