5 Reasons People Still Prefer Online Banking

Written by Flavius Saracut
Published on Oct 10, 2013
Read time 2 min
Category App Development

The growing number of smartphones is influencing a lot of industries, however in the banking industry, people are still preferring to transact on their desktops rather than on their smartphones.

According to a recent study done by research company Celent and cited by eMarketer in June 2013, most US internet users still prefer online banking for managing personal finances. Around 94% of users in all age groups use online banking however mobile banking is more likely to be used by younger groups 79% with ages between 18-29 decreasing to 59% for those over 60.

mobile banking

The number one reason for avoiding mobile banking transactions is the lack of trust in the security of the mobile phone.

mobile banking security

Banks also need to use the mobile channel to bring significant advantages to the user, as apparently there are still plenty of people who prefer to call or visit the bank. As any other tools, apps need to be promoted by banks, the survey also revealing that 14% didn’t knew their bank was offering mobile banking and 8% weren’t asked to signup for it.

reasons mobile banking

 

pdf app proposal
Written by Flavius Saracut
Flavius is the Marketing Manager and Co-founder of Mobiversal, a mobile app development company working with startups and established brands like Forbes to create unique mobile experiences. Mobiversal is also the maker of Appointfix and FieldVibe. Connect with him on Twitter @FlaviusSaracut.

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