Nautilus Hyosung

The future of mobile banking is strong, according to a new report from analysts at Aite Group. The Boston-based research firm said that approximately 7,000 financial institutions in the U.S. now offer mobile banking services and that more will deploy them in the years ahead, judging by growing consumer demand.

Of smartphone-owning consumers more than one-third, 36 percent, use their mobile device to check account balances, with nearly three in 10 receiving account alerts to their phones, the Aite report said. Additionally, one in six smartphone owners use mobile banking to transfer funds, pay bills, and view monthly statements, the report said.

Tablets are also growing as a mobile banking device. One in four tablet owners use them to check balances, with one in seven using them to receive alerts, transfer funds, or pay bills, the report said.

And mobile banking is only going to get bigger.

"Aite Group anticipates that mobile banking users in the United States will triple between 2012 and 2016," said report author Ron Shevlin, a senior analyst with Aite Group. "Tablets will become financial management devices, and smartphones will become financial transaction devices. Financial institutions should invest accordingly."

The report was based on an Aite Group survey that polled 1,115 U.S. consumers in the second quarter of 2012.

For more stories like this, visit the trends/statistics research center.

Related Content

User Comments – Give us your opinion!
Products & Services

KAL Check Cashing Solutions

http://global.networldalliance.com/new/images/products/KAL_Logo_SF100.gif

1223/KAL-Check-Cashing-Solutions

Customer Intelligence

http://global.networldalliance.com/new/images/products/Phoenix_C.jpg

808/Customer-Intelligence

Create Your Own Custom Kiosk

http://global.networldalliance.com/new/images/products/659.png

659/Create-Your-Own-Custom-Kiosk

NCR Cash Dispense ATMs

http://global.networldalliance.com/new/images/products/5005.png

5005/NCR-Cash-Dispense-ATMs

Fire Safety

http://global.networldalliance.com/new/images/products/6057.png

6057/Fire-Safety

ATMs

http://global.networldalliance.com/new/images/products/5783.png

5783/ATMs

KAL K3A – The Kalignite Advanced ATM Application

http://global.networldalliance.com/new/images/products/Kalignite_K3A_100.gif

3734/KAL-K3A-The-Kalignite-Advanced-ATM-Application

NCR Multi-Function ATMs

http://global.networldalliance.com/new/images/products/5041.png

5041/NCR-Multi-Function-ATMs

EMV and Payments Online Training Classes from Paragon Application …

http://global.networldalliance.com/new/images/products/6533.png

6533/EMV-and-Payments-Online-Training-Classes-from-Paragon-Application-Systems

ARGO - Touch Screen

http://global.networldalliance.com/new/images/products/6017.png

6017/ARGO-Touch-Screen

Media Kit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.