Ninety-five percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience as “good,” “very good” or “excellent,” and 77% agreed that technological improvements by banks are making it easier for them to access their financial services.
“Digital banking services have made it much more convenient for customers to manage their money, deposit checks or make payments,” said ABA SVP Nessa Feddis. “In addition to making life easier for existing customers, banks’ investment in new technology has significantly expanded their ability to reach Americans who may have had a more difficult time accessing traditional financial services.”
According to the survey, 70% of consumers used a mobile device to manage their bank account at least once in the previous month, and 43% did so more than three times. Consumers said they are also turning to their mobile devices to make a payment or transfer money more frequently: 34% said they used their phone to do so in the last year, up from 29% last year’s survey. The most popular mobile payment apps among consumers included PayPal (61%), Venmo (34%) and their bank’s app or Zelle (27% each).