Make no mistake, the banks have seen better days.

Regarded by the next generation of major consumers as an often outmoded institution with too many rules, fines and fees, and replaced on several fronts by mobile payment systems like Apple Pay, the bank’s future might be shaky without some changes.

Said changes may be in the works, and some are already considering new ways to take the fight directly to Apple Pay.

With some reports noting Apple Pay users could double to 25 million just by the end of this year, and only five percent of banks sporting a branded wallet that works with Android, it’s clear there’s a significant lag between banks’ mobile payment process and Apple Pay’s.

Worse, only 17 percent of respondents to a Bloomberg study noted plans to release such an app by the end of this year.

Banks have one critical advantage when it comes to the mobile payments field; public perception of banks is that they’re the strongest source of security around.

An Accenture study notes that 86 percent of consumers trust banks ahead of firms like Apple with personal information.

Apple’s recent fracas with the Department of Justice may change at least a few of those perceptions around, but the iron is about as hot as it’s going to get for banks to take advantage.

Whether building their own applications or piggybacking on current technology—becoming part of the infrastructure of Google Wallet or even Apple Pay—banks have several key options when it comes to mobile payments.

All that’s needed is to actually get a dog in the hunt before too much longer has passed and the opportunity passes with it.

After all, we know that mobile payments users will only put so many apps to work—about three, by some reports—before just giving up and sticking to only those apps in as many cases as possible.

Banks need to get some skin in the game, and soon.

With security perceptions considerably on their side, it’s a great opportunity to get a product out in the market.

If banks delay too much longer, however, they risk losing that opportunity to the products that are already available.

A reputation for security is tough to come by, and squandering it by not following up could be the worst move the banks could make.