Proof Point
Majority of U.S. consumers used mobile banking apps to check balances and statements, transfer money and pay bills in 2016
U.S. Consumer Mobile Banking App Use by Activity
2016 (percentage)
| Note: | Data based on Braun Research Inc. for Bank of America’s Trends in Consumer Mobility Report survey of 1,004 adults (18+) with current banking relationship (checking or savings), at 3.1 margin of error and 95% confidence level |
Proof Point Findings
- Mobile Banking Apps – Bank services enabling customers to conduct financial transactions using mobile device apps
- Top Banking App Activities – Checking balances and statements (85%), transferring money between accounts (58%) and paying bills (52%) top three uses of mobile banking apps among U.S. consumers
- Key Growth Drivers – Includes expanding mobile internet penetration, increasing consumer preference for faster, more efficient and self-service digital transactions, improving security features and protocols, and growing adoption of digital banking technologies
|
Accelerator |
|
|
Market Disruption |
|
|
Sector |
Financial Services
|
|
Source |
|
|
Date Last Updated |
June 2, 2017
|
