Top Reasons to Download Mobile Banking App

Top Reasons to Download Mobile Banking App

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


Market Disruption


Financial Services


Date Last Updated

April 9, 2018

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