Ninety-nine 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,” matching last year’s record, and 81% agreed that technological improvements by banks are making it easier for all Americans to access their financial services.
“Digital banking adoption has skyrocketed since the pandemic and consumers are clearly liking what they’re seeing,” said ABA SVP Rob Morgan. “These survey results show that consumers enjoy the convenience, speed and security of digital banking, and they are likely to continue using these channels even after the pandemic subsides. Banks have invested heavily in cutting-edge technology that has helped make financial services even more accessible across the country.”
According to the survey, 77% of consumers used a mobile device to manage their bank account at least once in the previous month, and 52% 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: 53% said they used their phone to do so in the last year, up from 41% the previous survey. The most popular mobile payment apps among consumers included PayPal (75%), CashApp (43%), Venmo (32%), Zelle (29% each), their bank’s app (26%) and Apple Pay (22%).