While more than eight out of ten of financial institutions are currently offering mobile banking services, 36% of consumers say they are still not using it. However, those using at least once a week climbed to 45% from 37% during the same period.
A new survey from TheStreet’s RateWatch also finds those with a Graduate degree are most likely to use online banking to some degree. Only 3.94% never use online banking compared to between 11.76% and 25.71% for other education levels; those 18-29 are more likely By Age than any other age group to access online banking multiple times per day while those 45 and older are most likely to have never accessed online banking; and compared to all other education levels, those with a Graduate Degree are most likely to use Bill Pay.
Also, consumers are most interested in using the following features: checking account balances, transferring between accounts, paying bills, receiving account alerts & locating ATM’s. Only about a third of those asked, are interested in making in-store purchases with their mobile devices.
MOBILE BANKING ADOPTION
Will Not Use 33%
Very Unlikely 21%
Somewhat Likely 21%
For data, background and forecasts on Mobile Banking : Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).