Mobile Banking Usage is Rising

Driven largely by increased smartphone penetration rates, mobile is really beginning to matter for banking interactions and transactions, according to a new executive brief published today by Novarica, a research and advisory services division of Novantas LLC that provides a window into the results of the Novantas Multichannel Preference Survey of more than 2,500 US banking customers.

“Not surprisingly, the research shows that younger consumers are the most focused on mobile capabilities, even more so than online,” comments Madhavi Mantha, head of banking research at Novarica and lead author of the report. “But mobile isn’t an island unto itself – consumers are using the mobile channel in addition to other digital and physical channels and banks must consider mobile as part of a broader multichannel strategy, which has implications from a technology platform and integration perspective.”

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