Ninety-nine percent of consumers rated their bank’s online and mobile app experience as “excellent,” “very good” or “good,” tying a record first set two years ago, according to a new survey commissioned by the American Bankers Association. Research firm Morning Consult surveyed more than 2,200 U.S. adults about their digital banking experiences and found that overwhelming majorities were largely satisfied with the services offered.
When considering the growth of digital and online tools as well as traditional branches and ATMs, 95% of respondents characterized their overall access to banking services today as “excellent,” “very good” or “good.” In addition, 84% said innovation and technological improvements by banks are making it easier for all Americans to access financial services.
“This survey shows that consumers overwhelmingly appreciate the incredible digital tools that make banking so easy these days,” said Rob Nichols, ABA president and CEO. “It also shows that Americans recognize how the industry’s investments in technology are helping to bring millions more unbanked households into the banking system.”
Nearly eight in 10 consumers (79%) used a mobile device to manage their bank account at least once during the previous month, and more than half (54%) did so more than three times, according to the survey. Ninety-two percent of younger adults ages 18-34 have done so, compared to 57% of adults ages 65 or older. In addition, the survey found that 54% of U.S. adults used a mobile app to make a payment or transfer money within the past year—up from 34% three years ago—with 74% of younger adults (those age 18-34) reporting that they had done so.