Smartphones, now owned by more than 45 million Americans, are the Swiss Army knives of the 21st century. They serve as video cameras, stopwatches, navigation devices, flashlights—even TV remote controls.
Advances in mobile phones are also changing how the world manages money. You can pay bills, get up-to-the-minute stock prices and file expense reports without ever sitting in front of a computer.
“There’s been a real demand on financial institutions to get more active in the mobile space,” said Jeremy Sokolic, director of marketing for the mobile financial information firm CarryQuote. People can get so many things on their phones that help them in their day-to-day life, (more…)