Android app Development Company | Rise of Mobile Banking: Consumer Usage and Attitudes (Internet Services - Website Promotion)

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Android app Development Company | Rise of Mobile Banking: Consumer Usage and Attitudes

The Rise of Mobile Banking: Consumer Usage & Attitudes
Much like mobile payments, user adoption of mobile banking has been gradual rather than explosive. Since the beginnings of mobile banking, consumers have been expecting their financial providers to deliver customer experience value at the same stride as other mobile app services; and with high expectations, Canadian consumers are satisfied with their bank’s digital experience.

According to the Canadian Bankers Association (CBA), Canadian attitudes towards mobile banking and FinTech innovations are very favourable among consumers:

• In 2017, the top six Canadian banks recorded 398 million mobile banking transactions.
• 90% of Canadians say banks have done well bringing forward innovation to banking.
• 26% of Canadians say their use of mobile banking is increasing.

Canadian retail bank customers value the convenience mobile banking offers. The CBA also reports three areas of importance for consumers:

1. 90% of Canadians value banking at a convenient time.
2. 77% of Canadians value saving time.
3. 77% of Canadians value banking from anywhere.

What’s interesting is, J.D. Power states that almost half of Canadian retail bank customers identify as “digital-centric” and 32% describe themselves as “digital-only” bankers. Mobile-only audiences are growing in Canada and more time is being spent on mobile apps, and despite the overwhelmingly positive feedback, only 17% of Canadians are mobile-only bankers.
Barriers to User Adoption
The disconnect between Canadian mobile time spend and mobile-only bankers could be a result of several factors. Though consumers are interested in greater mobile banking functionality, one of the greatest barriers to adoption is security. Many users are wary of how safe their money and personal information is when banking on their smartphones.

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Target State: California
Target City : California City
Last Update : May 11, 2019
Number of Views: 58
Item  Owner  : Vin Diesel
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2019-10-15 (0.075 sec)