16 Oct Mobile banking apps not just for millenials
The evolution of mobile banking apps are giving people a portable, efficient, and convenient avenue to take charge of their finances. Some new banks today are introducing a purely online platform, while most traditional banks are offering mobile banking apps to stay competitive in the mobile focused world. With $15.3 trillion in assets being held in U.S. banks, it’s critical for banks to understand how each generation uses mobile banking apps.
The report dives into the expanding world of mobile banking apps and is chock-full of stats you won’t find anywhere else. You’ll learn who uses mobile banking apps, how often, and what it means for banks. To wrap everything up, we take a look at the current and future state of banking app features, and offer tips for banks on how to provide the best mobile app experience.
Minmial Differences in Use Across Generations
There is only a 4% difference between how many Millennials use mobile banking apps, and how many Baby Boomers use mobile banking apps. (Baby Boomers aren’t so slow to adopt, after all!) Meanwhile, Generation X leads the pack, with 67% reporting they use their primary bank’s mobile app.
The lack of significant difference between generations show banks should ignore generational stereotypes surrounding technology adoption to target new customers, and further engage their current customers.
For more insights of this report conducted by Apptentive, click here!
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