What's hot: Mobile banking

By the end of 2007, Bank of America--the world's second largest banking corporation--counted more than 500,000 active mobile banking customers, despite introducing mobile services just six months earlier. To paraphrase Snoop Dogg, consumers have their mind on their money and their money on their mind, so it's no surprise that mobile banking is quickly approaching mainstream status. A recent report issued by market research firm TowerGroup forecasts that mobile banking services will soar from 1.1 million consumers in 2007 to 40.9 million by 2012, and for once it seems like such lofty projections are justified--after all, if the mobile experience indeed hinges on brief snacking interludes, it certainly seems much more productive to spend five minutes checking account balances, transferring cash and paying bills rather than playing games or watching YouTube clips.