Three in 10 bank customers used mobile banking on a weekly basis in 2015, exceeding for the first time the 24 percent who visit branches weekly, according to a new report from Javelin. The share of customers using mobile banking weekly has more than tripled since 2011, while the share of branch customers has continued a slow decline.
“Mobile is on a growth path to unseat PCs to become the ‘first screen’ through which bank customers interact with and judge their primary financial institution,” said Javelin’s Daniel Van Dyke. “FIs will need to continue to innovate to outpace this increasing mobile banking adoption. With fintech start-ups and other vendors entering the space, consumers have more options than ever when it comes to mobile.”
Javelin also found that approximate 25 million U.S. adults — 1 in 10 — began using mobile banking in 2015 for the first time.