Consumers' persistent fears about security are dampening their interest in financial institutions' mobile technology offerings, according to a Deloitte Center for Financial Services report. Sixty-one percent of those surveyed who do not regularly use mobile devices for financial services cited security issues as the prime reason, which is markedly higher than the next most common reason - a preference for doing such business in person or over the phone with a human being. More than one-third of respondents were most insecure about transacting financial services business on mobile devices because they do not trust the security of the wi-fi and mobile networks transmitting their data, while 28 percent were primarily worried about their mobile device being lost or stolen. For one in five consumers, the factor that most influenced their security concerns was a belief that the risk of identity theft was greater with mobile transactions.
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