Mobile Banking App Usage in the United States Increases 45 Percent from Q4 2010

by Mercator Advisory Group 0

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An analysis by comScore, Inc. shows that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011, representing 13.9 percent of all mobile users. The study also revealed that 12.7 million mobile users reported using banking apps, showing a notable increase of 45 percent from Q4 2010.

“The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services,” said Sarah Lenart, comScore vice president for Marketing Solutions. “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”

This analysis is consistent with similar industry studies, as well as Mercator Advisory Group research that shows that mobile banking is becoming a preferred channel for a wide variety of customers. In some cases, mobile banking is a preferred channel for customers, taking over some of the market that online banking had only a year or two ago. And, as more financial institutions offer updated mobile apps, and more customers choose to use smartphones, the demand for mobile banking will continue to increase.

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