More than a third (36 percent) of Americans have not visited a bank branch within the last 30 days and the most popular reason for most (67 percent) is to make deposits, according to a survey by Clarabridge. The good news for mobile adoption around money is that consumers seem to be getting comfortable with it. For example, how consumers interact with their bank includes:
• 38 percent - Mobile device
• 35 percent - Bank website via computer or laptop
• Nearly two-thirds (63 percent) of consumers have used their phones to perform a banking task.
One of reasons for mobile banking success likely has to do with services provided, the study said, since 78 percent of consumers using mobile banking say they are satisfied.
The good news for banks is that consumers prefer banking apps over third-party services like PayPal and Venmo by 43 percent to 26 percent, with 61 percent of consumers having downloaded their bank’s app. The most popular reason (49 percent) people prefer to transfer money via their bank’s app is because it’s easier to access account balances.
Millennials seem even more at home with mobile for banking uses, with only a quarter of them not using their phones for any banking tasks, the study said. Many millennials (42 percent) say they have never called their bank for help, which is 25 percent lower than the national average.