With the launch of our new mobile deposit feature this month, we thought we would take a closer look at how mobile banking has evolved. We learned - to know surprise to us - mobile banking has become one of the fastest growing services that consumers, like you, expect from their financial institution. Branch locations and ATM availability were once the key factors in choosing a financial institution. Recent studies show it's now all about the convenience of being able to conduct financial transactions through mobile banking.
- Since 2009, the number of consumers using mobile banking has increased 46%
- Since 2011, the number of consumers using mobile deposit has doubled
- A study conducted in 2013 found that one in three consumers who conduct their banking on a smart phone view mobile banking as the primary reason why they stay at their current financial institution.
- By 2017, nearly half of the U.S. bank account holders will be active mobile banking users.
Mobile banking is not just about checking account balances and transferring funds anymore. Services such as mobile deposit, mobile bill pay and more are now available on the feature-rich apps and are quickly defining what consumers want from their financial institution.Stay on the pulse of this growing trend and become a mobile banking user.
Simply download our mobile banking app for free at your device's appropriate app store today. (To access mobile banking, you must first be an online banking user. Click here to learn more.)