ABA survey: Consumers happy with their bank’s online and mobile experience

Ninety-seven percent of consumers rate their bank’s online and mobile app experience as “excellent,” “very good” or “good,” according to a national survey conducted by Morning Consult on behalf of the American Bankers Association. When considering the growth of digital and online tools as well as traditional branches and ATMs, 94% of respondents also characterized their overall access to banking services today as “excellent,” “very good” or “good.” In addition, 79% of respondents said innovation and technological improvements by banks are making it easier for all Americans to access financial services.

Eight in 10 consumers (81%) used a mobile device to manage their bank account at least once during the previous month, and more than half (59%) did so more than three times, according to the survey. Nine in 10 adults ages 18-44 have used a mobile device to manage their bank account during the previous month compared to 62% of adults ages 65 and older. In addition, the survey found that 60% of U.S. adults used a mobile app to make a payment or transfer money within the past year—up from 34% just four years ago—with three-quarters of 18–44-year-olds reporting that they had done so.

The data also indicated that, by a large margin, U.S. adults trust banks more than any other entity—including healthcare providers, non-bank payment providers and the government—to keep their information secure and private. Nine in 10 bank customers (87%) said their bank takes proactive steps to protect them from fraud/scams, and three-quarters (76%) believe their bank does more than businesses in other industries to protect them from fraud/scams.