Morning Consult: Customers Prefer Mobile Apps for Banking

Most Americans prefer to do their banking through mobile apps, according to new research released by Morning Consult on behalf of the American Bankers Association. Since the pandemic started, 44% of bank customers used apps on phones or other mobile devices as their top options for managing their bank accounts the survey found—an increase from 33% pre-pandemic.

In-person banking at a bank branch declined to 10% from 21% before the pandemic as the option consumers used most frequently to manage their bank accounts. The use of online banking through a laptop or PC increased from 24% before the pandemic to 26%.

The survey of 2,201 U.S. adults also found that bank visits have fallen by at least 8 percentage points among all generations during the pandemic. For Baby Boomers, prior to the pandemic, visiting a bank branch was the second most-used method for managing their finances at 28%, but it fell to the third spot (17%) below mobile apps (29%) after COVID-19. More than half of Generation Z, millennials and Generation X said they now use mobile banking apps most often.