21 Apr 2011

Banks Are Going Mobile

For years people have logged on to their bank's website. In fact three in four consumers have logged on to their bank's (or other financial institution) website. But with the possibility to distribute apps for Android and iPhone the banks have found a new way to service their customers.

Despite the fact that the mobile phones are not used as widely for doing financial transactions as other methods the consumers seem to embraced this possibility. A report by Comscore shows that one in five credit card holders have logged on to their account with their mobile phone. They have done this via a mobile browser or a downloaded mobile application.

Channel usage among mobile phone users      Primary method        All methods used
Go online to my financial institution's web site                  59%                          74%
Call the company on the phone                                         17%                           51%
Logged on via my mobile phone's Internet browser              4%                           16%
Logged on via an application via my mobile phone              3%                           13%
Via text message alerts on my mobile phone                       2%                           13%
Source: Comscore (April 2011)

See also my blog post Banking Is An Online Business.
Download Online Credit Card Report from Comscore.


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