ST. PETERSBURG, Fla. (11/16/09)--The demand for mobile banking is expected to skyrocket, according to a white paper from PSCU Financial Services. The paper, “A Versatile Medium Serving Versatile Needs,” explores the importance of online banking and its implications for the future. The paper notes that Gen Y evaluates online and mobile banking services when deciding on a financial institution. The young and mobile generation requires access to financial accounts and information to be available immediately on the Web, PSCU Financial Services said. Online banking also is important to small-business owners. Many business owners are dissatisfied with banks, and more than half said they would switch financial institutions to obtain online banking and other products. About 65% of small businesses will use online banking by the end of next year, the paper said. “A Versatile Medium” is part of a series of papers that explain how credit unions can optimize and market online banking services. The next paper will discuss what credit unions should consider when selecting an online banking platform for their membership. PSCU Financial Services, St. Petersburg, Fla., is a credit union service organization serving more than 1,300 financial institutions nationwide. For more information, use the link.