Skip to main content

U.S. Mobile Banking Service App Use is Increasing

comScore released an analysis of mobile financial services usage showing that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011 in June -- representing 13.9 percent of all mobile users.

The study also revealed that 12.7 million mobile users reported using banking applications (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 media tablets gaining popularity in addition to smartphones, financial service institutions can anticipate additional growth in demand.

Nearly 14 percent of the total U.S. mobile audience (32.5 million users) accessed mobile banking services in June 2011 -- that's up by 21 percent from Q4 2010. Mobile credit card services saw an even greater increase, with 18.4 million mobile users accessing credit card information -- up 23 percent from December 2010.

Mobile auto and property insurance services also exhibited strong gains as 7.2 million mobile users accessed insurance information on their devices -- a 19 percent increase.

In particular, mobile banking and credit card app usage have seen sizeable increases. 12.7 million mobile users reported having used a banking app in June (up 45 percent from Q4 2010), while 6.0 million users used a credit card app (up 43 percent).

An analysis of credit card customers’ engagement with various account channels shows users reporting more frequent access through mobile channels than fixed-line computers in Q2 2011. 62 percent of credit card customers reported using an app to visit a bank’s web site at least once a week, and 52 percent reported checking in with the same frequency via a mobile browser.

In comparison, only 34 percent of users responded checking into their accounts with the same frequency from a fixed-line computer.

Popular posts from this blog

How to Drive Value Creation from Digital Business

Across the globe, many forward-thinking CEOs and CFOs continue to fund business technology investments that enable meaningful and substantive digital transformations, ahead of their industry peer group. That's why CIOs and other IT leaders must now accelerate the quest for value creation and drive digital growth from those ongoing investments, according to the latest market study by Gartner. "The pressure on CIOs to deliver digital dividends is higher than ever," said Daniel Sanchez-Reina, VP Analyst at Gartner . "CEOs and boards anticipated that investments in digital assets, channels, and digital business capabilities would accelerate growth beyond what was previously possible." Digital Business Market Development   CIOs expect IT budgets to increase 5.1 percent on average in 2023 -- that's lower than the projected 6.5 percent global economy inflation rate. A Gartner survey analysis revealed several ways in which CIOs can deliver "digital dividends&qu

Digital Transformation Investment at $3.4 Trillion

Business technology leadership matters. Across the globe, more leaders have been pursuing bold Digital Transformation (DX) initiatives with the goal of creating new sources of business value through digital products, services, and experiences. As an additional benefit, the COVID-19 pandemic revealed that digital transformation efforts improve an organization's resilience against global market disruptions. Global DX investment is forecast to reach $3.4 trillion in 2026 with a five-year compound annual growth rate (CAGR) of 16.3 percent, according to the latest worldwide market study by International Data Corporation (IDC). Digital Transformation Market Development "Despite strong headwinds from global supply chain constraints, soaring inflation, political uncertainty, and an impending recession, investment in digital transformation is expected to remain robust," said Craig Simpson, senior research manager at IDC . The benefits of investing in DX technology -- including aut

Artificial Intelligence for National Border Security

National border protection agencies are under pressure to provide the highest level of security in the face of growing threats, such as increasing illegal migration and international terrorism. Now, government agencies are embracing advanced border security technologies to aid in effectively and reliably securing national borders. These solutions look to detect and identify potential threats and prevent them from escalating to a point that may jeopardize security. Security Surveillance Market Development Traditional border security patrols and Closed-circuit Television (CCTV) surveillance systems aren't adequate protection, and agencies must increasingly deploy new solutions to stay ahead of criminals and other potential threats to ensure the safety of a country’s borders. According to the latest market study by Juniper Research, the value of the border security technology market will exceed $70 billion globally in 2027 -- that's rising from $48 billion in 2022. Growing by 47 p