MMA February US Consumer Briefing: Mobile Banking

What is the role of mobile in US consumers’ financial life? How do consumers use mobile banking? What banking services are most relevant via mobile? These questions are addressed in the February US Consumer Briefing Report based on survey research conducted by MMA from January 19 to January 23, 2009.

Almost 19% of mobile phone users surveyed for this study indicated they currently do banking through mobile. Adjusting for the 8% of the population without mobile phones, this finding is equivalent to 17% of all US adult consumers surveyed (including non-owners of cell phones) using mobile banking.  
Looking ahead at the coming 12 months, the percentage of mobile phone users engaging in mobile banking is expected to increase more than five percentage points to almost 25% of mobile phone users.  
The study provided both topline and detailed demographic and mboile segment breakouts for the following topics:
 
  • Brand of current cell phone
  • Current cellular service provider
  • Mobile banking usage
  • Technology employed for mobile banking
  • Interest in specific mobile banking services (bill payment, account updates, etc.)
  • Importance of security in mobile banking
  • Interest in downloading secure apps for mobile banking