Minn. (MN)—the internet research marketing company, comScore, and its recent report estimates that 32.5 million Americans accessed mobile financial services and 12.7 million users utilized banking applications.
The increase in demand and usage of financial services on devices compared to the year before totaled to 26.8 million users. That is a 21 percent growth overall with smartphones continuing to grow in popularity and usage amongst consumers and businesses.
“The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services,” said Sarah Lenart, comScore vice president for Marketing Solutions. “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”
Mobile app usage for banking information exploded to a whopping 45 percent compared to last year’s stats, and credit card information grew to 43 percent. In addition, mobile browser usage gained engagement in both categories (banking and credit card) but will probably die off in the upcoming years due to the convenience and sophistication of mobile apps on devices.
Finally, according to the report credit card clients or customers were found to be frequently accessing mobile channels in comparison to a fixed-line computer. The numbers were 62 percent of credit card users engaged an app to visit their banking institution at least once a week. On the other hand, 52 percent also were checking with the same frequency through a mobile browser and only 34 percent checked from a computer.