A new Halifax Savings survey has shown that 18 to 24 year olds find it easier to save using digital tools. New research has revealed that four out of every five young adults find that online and mobile banking services are helping them to increase their balances and save their money in an effective way. The research also discovered that what is true for younger consumers is not the same for older ones. Among people between the ages of 18 and 24 years of age, 81 percent using their bank’s…
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Mobile banking app adoption rates revealed in new study
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…
Read MoreMobile banking sees 13 percent usage jump in Q1
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…
Read MoreAfrican mobile banking fees could generate $1.5 billion in fees by 2019
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…
Read MoreMobile banking will break the 1 billion user mark in 4 years
By the year 2017, studies are showing that the use of these services will have skyrocketed. The latest mobile banking study data from Juniper Research has indicated that an increasing acceptance of this type of smartphone and tablet based service has caused users to bring the number of users up to nearly 200 million. It is expected that the growing use of tablets will play an important role of the industry’s adoption. In fact, while mobile banking over tablets represents 9 percent of the total number of customers at the…
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