46% Of U.S. Bank Account Holders Will Use Mobile Banking By 2017
According to a new Forrester Research report, mobile banking will reach 108 million users in the U.S. by 2017. That’s about 46% of all U.S. bank account holders. Today, according to Forrester’s latest survey, just about 13% of U.S. and 9% of European mobile phone owners regularly use their banks’ mobile banking tools. The market is growing quickly, however, and Forrester’s analysts believe that mobile banking is finally seeing sustained traction.
While we’ve heard a lot about digital wallets, Square and other cutting edge mobile payment systems lately, the reality is that even something as straightforward as mobile banking is still a novelty for many users.
At this time, according to the report, most users are just using mobile banking to check their balances (45%), transaction histories (61%) and to transfer money between their own accounts (31%). In the U.S., 65% of mobile bankers use their banks’ mobile sites and 45% use apps. In Europe, SMS alerts still remain the most common type of mobile banking.