Mobile banking services on the up in US - Mobile World Live

Mobile banking services on the up in US

28 OCT 2011

More mobile users in the US are increasingly making use of mobile banking services, according to research by Comscore.

Mobile banking apps have seen a a 45 percent increase in usage from the end of 2010 to the middle of this year, with 12.7 million mobile users of banking apps by the end of the second quarter of 2011. Credit card app usage also increased by 43 percent, to 6 million users.

In total, 32.5 million people – around 14 percent of the total user base – were accessing banking information on their mobile devices by the same point in 2011. This is a 21 percent increase compared to the final quarter of 2010.

Mobile credit card services increased, with 18.4 million mobile users accessing credit card information via their mobile device, a 23 percent increase from December 2010. Mobile car and property insurance services saw a 19 percent increase as 7.2 million users access related information.

"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's VP for Marketing Solutions.

“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," Lenart added.

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Tim Ferguson

Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter... More

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