Mobile Matters: Consumers Expect a Good Mobile Banking Experience

Everywhere you go, people are attached to their phones. Nose to the screen, blue light reflected in their eyes. So, it’s no surprise that our latest research shows nearly half of consumers have 3 or more finance-related mobile apps on their phones today. And, they are using these apps a lot. In fact, 31% of U.S. consumers say they log into the mobile banking or finance app they use most often every single day. An additional 22% say they log in multiple times a day. 

However, not all mobile banking experiences are equal and no one is more aware of this than consumers. In fact,  the quality of a mobile banking experience can be the deciding factor in the financial provider(s) consumers choose.

In our latest survey, we asked 1,000+ U.S. consumers how likely they are to use a financial provider with a poorly-rated mobile app or bad mobile experience. Thirty-five percent said not likely and 22% said very unlikely. That means over half (57%) of consumers will shy away from using a financial provider with a bad mobile experience. 

At the same time,  65% of consumers said they would stop using a mobile app if the experience changed for the worse.

This research makes it  clear how important a good mobile experience is to consumers. But what makes a mobile banking experience good? Our research shows that consumers want a relevant and personalized experience.

Check out our latest research report to learn more about what consumers want in their mobile banking experience and other actionable intel.