Mobile banking apps usage predicted to surpass online banking by 2019

Mobile banking apps - Increase in mobile banking over computers

More and more consumers are turning to their smartphones for their banking needs. The CACI reported that 22 million people chose to use mobile banking apps to manage their accounts via their smartphone in 2017. It’s forecasted that by next year (2019), more consumers will choose their phone for banking than their computers. 35 million people are expected to bank via a smartphone app by 2023. In addition to this CACI report prediction, it was said that by 2023, consumers would likely visit a bank branch only twice per year.…

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Mobile banking app adoption rates revealed in new study

Mobile Banking Industry

The research was conducted by TSYS and was recently released in a report called the “2015 U.S. Consumer Payment Choice Study”. The outcomes of the 2015 U.S. Consumer Payment Choice Study by TSYS have now been released and have provided notable insight into the use and adoption rates of mobile banking apps by consumers. The survey involved the participation of more than 1,000 customers in order to identify those trends. It revealed that the use of mobile banking apps is growing and that among those who have already adopted these…

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Mobile banking sees 13 percent usage jump in Q1

mobile banking

The South Korean market has greatly expanded its use of these apps and services during the span of three months. According to data that has been released by the central bank in South Korea, mobile banking in that market has undergone a 13 percent increase in terms of its daily usage over the span of the three months that made up the first quarter of this year. This insight underscores the strength of the growing trend toward mobile device use for financial transactions. During the period running from January through…

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African mobile banking fees could generate $1.5 billion in fees by 2019

africa mobile technology

A The Boston Consulting Group (BCG) report illustrated the growth of sub-Saharan smartphone based payments. A recent report that has been published by The Boston Consulting Group (BCG) has provided considerable insight into the use of mobile banking and financial services in parts of sub-Saharan Africa, and the rate of growth within this trend. Many African consumers are now using mobile payments for sending money to other people and to pay their bills. The mobile banking report suggested that by the year 2019, the fees that would be collected from…

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Mobile banking has a bright future in Asia

mobile payments banking check deposit

Report shows that the demand for banking applications is on the rise in emerging Asian markets Ericsson, a Swedish communications technology company, has released a report concerning mobile banking. As smartphone penetration continues to grow, many people are looking for services that can help them manage their finances on a mobile device. As such, the demand for mobile banking applications has begun to grow. Many banks have been slow to accommodate this demand, but the future may be bright for the mobile banking space. The report from Ericsson shows that…

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Mobile payments apps are not all created equal

mobile payments banking check deposit

Xtreme Labs has conducted a study that reported on the winners and losers in these applications. The results of a study that was performed by Xtreme Labs have just been released, revealing the ratings that American consumers have applied to various mobile payments and banking apps in the United States. The report clearly showed that there were a number of well liked applications as well as those that were entirely disliked. The analysis was performed using customer reviews that were officially submitted to the Apple App Store and to the…

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QR codes to be used by Mobile Privat24 for contactless payments

QR Code Mobile Payments banking app

Transactions can be completed with the scan of a barcode by iOS and Android devices. PrivatBank has just announced the release of the latest version of its Privat24 mobile payments app for Android and Apple iOS devices, which is centered around QR codes. The service is available to smartphone using customers without a contract. The bank has made this latest launch in order to keep up with what it feels are the expectations of today’s customers. They believe that smartphones will become an important part of electronic banking, and that…

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