The latest results from Jupiter Research note that no matter how hard banks and other financial institutions push mobile banking, only 8% of cell phone users who use online banking services are interested in mobile banking. Jupiter says banks are going about it the wrong way.Rather than offer services that fully take advantage of the strengths of the mobile platform, current offerings are repackaging existing online services and stuffing them into a mobile format. This is apparently a no-no.

"Banks should not offer mobile services that aim to mirror or duplicate the online experience," said David Schatsky, president of JupiterResearch in a statement. "Online banking brought consumers the convenience of banking anytime. Mobile banking can add an anywhere element, but banks should identify where such ubiquity is crucial."

Aspects of mobile devices such as SMS and client applications should play a greater role in determining what services are offered. And, of course, user experience is key. If the software is clunky or feels insecure, users are less likely to use mobile banking.

According to the study, younger users are most likely to be early adopters of mobile banking services. This isn't a big surprise, as younger users have fewer inhibitions and go to greater lengths to incorporate digital and mobile technologies into their lifestyles.