Yesterday’s Wall Street Journal newspaper had a great article on the rapid adoption of mobile banking by consumers in the USA. Some of the cool indicators of adoption cited in the article include:
- Mobile banking represents roughly 8% of transactions, with online banking at 53% and branches, 14%, according to AlixPartners. Other methods, including automated teller machines, make up the rest.
- Nearly half of smartphone users who switched banks said that mobile banking was an important factor in their decision, up from 7% in 2010, according to an AlixPartners survey.
- Bank of America began offering mobile check deposit in August – and now their clients are depositing more than 100,000 checks each day through their mobile phones.
- J.P. Morgan Chase & Co., which started offering mobile banking in 2009, said that it has some 13 million customers who use its mobile services.
Similarly – I’ve seen another stat that said 57% of U.S. smartphone owners use mobile banking features.
Last week I was in Toronto with several key clients including ING Direct – and they offer a very cool mobile banking app that is one of the best I’ve seen in the industry. I especially like their Small Sacrifices feature that is well integrated to social media feeds – you might want to check it out up on the app stores.
Did you know that 20% of the largest US banks use IBM Mobile solutions, and 15% of the top banks around the world do too!