A thorough analysis by the World Economic Forum, organizer of the famed show in Davos, shows that widespread adoption of mobile financial services has not been achieved due to structural issues and inadequate consumer participation.

ORLANDO, FL – While mobile banking tends to be a consumer engagement tool, new features such as remote deposit capture provide financial institutions with the opportunity to generate profits, according to a panel at CTIA Wireless 2011.

Commercial Bank of Qatar, the largest private-sector bank in Qatar, has launched comprehensive mobile banking and mobile payments services for its retail customers.

Bank of America’s Merrill Lynch has launched applications for Apple’s iPhone and iPad and Research In Motion’s BlackBerry devices for clients of Merrill Lynch Wealth Management and Merrill Edge.

A Celent report found that life insurers and the annuity industry are still mired in a less-mature state of development in the world of smartphone applications.

While the nascent field of mobile banking has many issues that will need to be resolved moving into the future, Hana Bank’s approach in launching its smartphone banking service is instructive, according to a report by Celent.

While 41 percent of consumers say that they would like to pay bills on their mobile phone, more than half are concerned about the security of mobile transactions, according to a Nuance Communications survey.

Analysts predict an increase in malware – malicious software – and other security threats that hackers spread through mobile devices, especially as sales of smartphones continue to explode worldwide.

While many Super Bowl XLV television advertisers missed a huge opportunity to promote their mobile products and services, JPMorgan Chase & Co. was one of the few that effectively did so.

Mobile banking growth in the United States continues to be fueled by aggressive adoption of smartphones and regular mobile Web use, according to Forrester Research.