Mobile Financial App Users Increase 120%

Substantial growth in the usage of mobile applications occurred around the world in the last quarter of 2010 and has continued into the quarters of 2011. The U.S is a prime example of this huge growth. In the United States, a total of 10.8 million mobile users accessed their financial accounts via applications, up 120% from 4.9 million. SMS (text message) represented the smallest access point for financial service audiences with 8.1 million users, up 35% from 6 million. A main driver in these high figures has to do with the increased presence of smartphones among children and adults, and the simple designs/features that many mobile banking applications illustrate.

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