US consumers’ confidence in mobile banking use is steadily increasing, a recent report has unveiled.

According to the Global Consumers and Convergence survey conducted by KPMG LLP, an audit, tax and advisory firm, over 19 percent of respondents have performed financial transactions on a mobile device, compared to 9 percent revealed by another KPMG survey completed 18 months ago.

The same research has pointed out that consumers aged between 16 and 24 qualify as the most avid users of mobile banking services since 33 percent of participants claimed they have accessed online banking services via a mobile handset.

However, in spite of the ascending curve registered in mobile banking usage, consumers are still reluctant to use their mobile devices for financial transactions. 52 percent of the persons involved in the survey have cited security and privacy as the main reason for their distrust.

A potential solution might reside in the banks’ initiative of keeping customers informed regarding their online banking-based mobile services. Supporting such a view, Carl Carande, principal of KPMG LLP's Banking and Finance Advisory practice has declared: "To continue to spur adoption, banks may need to continue to educate consumers about the security of the mobile banking environment and further promote the availability of this vehicle that helps make banking more accessible and convenient”.