Lawrence Flanagan, the Chief Marketing Officer of MasterCard, recently had a little heart-to-heart with Forbes about the need to rebuild trust between financial institutions and consumers.

According to Aite Group LLC, the number of banks in the U.S. offering mobile banking is expected to increase to 614 in 2009 compared to 245 in 2008. Banks have begun to adopt mobile banking technology after overcoming fears of low return-on-investment and risks of investing in perpetually changing technology.

Cellphone giant Nokia has decided to diversify its services by offering Mobile Banking to its customers.