JACKSONVILLE, Fla.-A new mobile banking research study commissioned by FIS has found that 50% of all smartphone owners used mobile banking within the last 30 days and that 76% of mobile banking users were satisfied with their experience-a 16 percentage point gain in satisfaction from 2010.
Conducted in February 2011, the online study surveyed a random sampling of 4,000 adults, split evenly by gender, who own mobile phones. Its purpose was to determine the impact of mobile devices on consumer behaviors related to a variety of financial transactions, according to FIS. Among the findings:
• Mobile banking from smartphones nearly doubled in the past year, with 50% of all smartphone owners using mobile banking within the last 30 days. CTIA, the wireless industry association, reports there are 78-million smartphone subscribers in the U.S.
• Smartphone owners represent 76% of all mobile banking users while standard phones and Web-enabled devices made up the 24% balance of users.
• More than half (56%) of mobile banking users are members of the Gen Y demographic
• Downloadable app mobile banking users represented the most satisfied segment of mobile users, with 88% satisfied with their primary bank's mobile banking service, a 9% increase from 2010.
• Of consumers who had downloaded apps for their smartphones, 37% had downloaded banking applications-making banking apps among the most popular types of applications.
• 57% of mobile banking users with smartphones expressed an interest in using remote deposit functionality, but only 7% of smartphone users are certain they have access to a remote deposit application for their bank.* Smartphone mobile banking customers were three times more likely to use contactless or Near Field Communication payments than non-mobile banking customers.
• The top 10 U.S. banks account for 52% of all mobile banking users.
• For those not using mobile banking, 38% preferred to access their accounts online through their computer, 28% cited security concerns as their reason for not adopting mobile banking, while 19% cited small screen size as a barrier.
• Of the respondents surveyed, nearly half did not know if their bank offered mobile banking.
