Proof Point
Bank of America survey found on-demand access and convenience top reasons for downloading mobile banking apps
Top Reasons to Download Mobile Banking App
2017 (percentage of respondents)
| Note: | Data based on Bank of America’s 2017 Trends in Consumer Mobility Report that surveyed 1,000 U.S. respondents with bank accounts and smartphones, aged 18 and above, with a 3.1 margin of error, as well as 201 panelists aged 13-17 years old who own smartphones, with 6.9 margin of error |
Proof Point Findings
- Mobile Banking Apps – Bank services enabling customers to conduct financial transactions using mobile device apps
- On-Demand Access – 24/7 access top reason for downloading mobile banking apps, selected by majority (55%) of U.S. respondents in Bank of America survey
- Convenience – Greater convenience another motivation for respondents, with mobile banking apps eliminating need to conduct financial transactions physically, such as depositing checks (44%), paying bills (28%), as well as reduced trips to bank (29%)
- Key Growth Drivers – Include increasing network connectivity, rapidly accelerating adoption of digital banking technologies, and growing consumer preference for faster, more efficient and self-service digital transactions
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Accelerator |
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
April 9, 2018
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