“Consumers continue to adopt mobile banking, but how satisfied are they and how has their behavior changed? A national study shows where banks can improve.
Mobile banking isn’t a curiosity anymore. It’s a regular part of doing business, and banks aiming to cut costs by moving customers to electronic channels are counting on it being a success. But is mobile banking living up to consumers’ expectations? And how has availability of this channel affected usage of more traditional means of banking?
The MSR Group examined these questions in our 4th quarter 2013 National Banking Study. Our research found about 38% of banking consumers report they have used a mobile device to conduct personal banking business with their primary financial institution in the past two weeks. An additional 8% say that although they haven’t used mobile banking in this timeframe, they do use the service. This total usage reflects a 21% increase over 1st quarter, showing adoption continues to grow and is nearing half of all banking consumers. We were particularly interested in how well this newer channel is meeting consumer needs.”
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Mobile banking isn’t a curiosity anymore. It’s a regular part of doing business, and banks aiming to cut costs by moving customers to electronic channels are counting on it being a success. But is mobile banking living up to consumers’ expectations? And how has availability of this channel affected usage of more traditional means of banking?
The MSR Group examined these questions in our 4th quarter 2013 National Banking Study. Our research found about 38% of banking consumers report they have used a mobile device to conduct personal banking business with their primary financial institution in the past two weeks. An additional 8% say that although they haven’t used mobile banking in this timeframe, they do use the service. This total usage reflects a 21% increase over 1st quarter, showing adoption continues to grow and is nearing half of all banking consumers. We were particularly interested in how well this newer channel is meeting consumer needs.”
read more>>
