More Evidence that Mobile Banking is Gaining Momentum

mobile-bankingIn an earlier post, “2011 Might be the Tipping Point for Mobile Payments,” I reported how this year could be the tipping point for adoption of mobile payments. Some new research on mobile seems to back up that prediction.

A new report from comScore, Inc., a company specializing in digital business analysis, shows that nearly 30 million people in the U.S. accessed their financial services accounts through a mobile device in the fourth quarter 2010, an increase of 54 percent from Q4 2009.

“More people are turning to the convenience of mobile devices for their financial service needs, fueled in part by the adoption of smarthphones, 3G devices and unlimited data plans,” said Sarah Lenart, comSource vice president.

According to the comSource report, the breakdown of how Americans accessed their financial services accounts (bank, credit card or brokerage) in Q4 2010 included: 29.8 million via a mobile device (either a mobile browser or application, up 54 percent from 2009). To break down these numbers further, access through a mobile browser totaled 18.6 million (up 58 percent); access through a mobile application totaled 10.8 million (up 120 percent); and access through SMS or texting totaled 8.1 million (up 35 percent). Only a small number the people surveyed listed speaking to a representative in person or on the phone as the primary method used to access their accounts.

Among mobile banking customers, using a mobile device to access accounts was the second most popular method listed after going online from a fixed device.

So, what do you think? In your personal life, are you relying more and more on your smartphone or mobile device to conduct daily business? Are you seeing more adoption among your residents? We’d love to hear your stories.


Senior Vice President – Payments, Portals & CSM
kimberly.lang@realpage.com

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Kimberly has extensive expertise in rules and regulations to maintain compliance in support of the Payments system. She is certified by the National Automated Clearing House Association (NACHA) as an accredited ACH professional. She is also a member of the ACH Marketing Advisory Council Committee for SWACHA (a regional association of NACHA) and on Wells Fargo’s advisory board council. Before joining RealPage, she was the director of operations for RealPage’s payment partner, Select Payment (acquired by Jack Henry and Associates in 2006).

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