Are your mobile banking apps safe? This infographic explores who are the power uses for mobile banking, what is the primary deciding factor in switching banks and why some banking consumers are still resistant to mobile banking.
- Millennials are mobile banking power users with 87% of banking consumers aged 18-35 using mobile banking. Millennials use mobile banking 8.5 times compared to non-millennials who use mobile banking 3.1 times per month.
- Banks that offer mobile banking may capture more business as 60% of consumers say the deciding factor for switching banks was mobile banking resources compared to 28% due to fees, 21% due to branch location, and 21% due to services.
- Of those who do not use mobile banking resources, 61% of banking consumers state security is the #1 reason for not using mobile banking.
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Beth Kindig is a data technology evangelist with over 7 years of experience in mobile and data. She has been published in many publications on data privacy including VentureBeat, MediaPost, AdExchanger and the International Association of Privacy Professionals. She has written Quarterly Data Reports on data collection since 2014.