Law360, New York (August 30, 2016, 12:00 PM EDT) -- Mobile banking is quickly gaining momentum as the most important form of interaction between customers and their banks, and, by some accounts, is expected to become neck and neck with online banking and ATM use this year. Each year since 2011, the Federal Reserve has conducted a "Consumers and Mobile Financial Services" survey of over 2,000 U.S. adults on their use of mobile banking. While mobile banking continues to rise, the percentage of smartphone banking users has leveled off. This leveling off is correlated to nearly 75 percent of users citing security as a top concern. At the same time, a recent Salesforce report on what millennials expect from their banks found that at least 75 percent of millennials are reliant on a mobile banking application. At least a quarter of this same population cites a lack of mobile application as the main barrier to bank engagement, or a reason to pick one bank over another. Customer demand for secure mobile banking applications and mobile financial services is not only here to stay, but is becoming a staple of modern banking practice....