While not a new phenomenon, the current sophistication of mobile phones continues to influence not only how we communicate, but also how we conduct our lives. Talking 'on-the-go' has evolved to include the consumption of information and immediate access to personal data ? all via a phone that fits into the palm of our hand.

With an estimated three billion mobile phone users worldwide by 2011 (Frost and Sullivan 2007).

It is predicted that mobile banking will be used by an estimated 35 per cent of online banking households by 2010, with Gen Y adopting the technology faster than any other demographic (US Mobile Banking: Beyond the Buzz). This report also states that 40 per cent of 18 to 25-year olds will be influenced by mobile banking features when choosing a financial institution.

More immediately, the immensely successful global launch of the iPhone has highlighted the speed at which consumers are willing to accept mobile technology ? placing Internet banking in the spotlight more than ever before.

For the first time, financial institutions, particularly retail banks, are introducing mobile banking as a part of their mainstream customer service proposition. For example, ANZ's customised iPhone icon takes the user directly to the login page for ANZ Internet Banking, which allows its customers to view their accounts and 30 day transaction history, transfer between accounts and pay anyone.

Westpac recently made modifications to its online banking site, ensuring its compatibility with iPhone's web browser. Westpac customers are able to bookmark the Westpac Internet Banking site on their phone.

CommSec also launched a customised iPhone application, encouraging customers to manage their investments via the mobile phone's easy touch-screen functionality.

But what does this all mean for Australian businesses? Ultimately, consumers will be more inclined to interact with those companies that ardently employ channels that best suit their lifestyle. And increasingly it is a lifestyle characterised by customised technology..