Citigroup (NYSE:C) Say Mobile Puts a Bank in Your Pocket

Mobile banking has been attracting a lot of attention and hype lately, with Citigroup (NYSE:C) saying it will put a "bank in your pocket."

Tracey Weber, managing director of online and mobile banking for Citigroup in North America said, “Mobile banking is really about putting the bank in your pocket — it gives you anytime, anywhere control of your money, with a growing number of new twists.”

Bypassing the hype, is mobile banking a disruptive service, or one of many ways to access your account and do your banking?

It doesn't appear to be disruptive in the way some are hyping, as every bank will eventually offer mobile banking, and with it quickly becoming a commodity service, it'll simply be considered a part of our everyday lives.

Online banking will continue to be the main way of doing business with banks, but mobile will definitely expand its percentage of use as a part of consumer banking.

As far as it adding to the bottom lines of banks, it doesn't appear to have much effect there, as there may be a small fee for some, but again, it's better to have online or mobile banking being the practice of banking customers because it cuts back on costs, which is the real advantage.

Mobile banking will grow, but it'll be a nice convenience for someone on the go, not something that will make much more of a difference than that.