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Swedes snap up mobile banking

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Swedes snap up mobile banking
12:12 CEST+02:00
Swedish bank customers are turning their backs on going to their local branch preferring to use their mobile phone instead.

"The number of people who download the mobile app is increasing and they are using it also once its installed. The app is very user friendly," Handelsbanken press officer Henrik Westman told the TT news agency.

With smartphones now the norm major Swedish banks like SEB, Handelsbanken, Nordea and Swedbank have reported that the number of mobile logins is more than online banking via a computer.

"It's practical and fast. Usually I transfer money and check my account balance before I buy something," said mobile bank user Madelen Lyckedal who added she logs in several times a week using her handset.

Although internet banks have more unique customers, those who have the mobile app tend to use it more frequently.

Safety features have also been improved said Per Hellqvist of online security experts Symantec.

"Since you can only do relatively simple things with mobile banking that makes it more difficult for gangsters to steal your money. They only thing they can do is check your balance and bully you because you don't have any money in your account," he added.

TT/The Local/pr

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