Mobile banking app usage in the U.S. increases 45% from Q4 2010

32.5 million Americans accessed mobile banking information on their
devices at the end of Q2 2011 in June, representing 13.9 percent of all mobile

12.7 million mobile users reported using banking apps, showing a notable
increase of 45 percent from Q4 2010, according to an analysis of mobile
financial services usage in the U.S. by comScore.

The investments in mobile made by financial services institutions, along
with the continued growth in smartphone adoption, have had a truly positive
effect on the use of mobile financial services. New apps and mobile-enhanced
sites have made it easier for customers to seek out financial information using
mobile devices.

“With tablets and other web-enabled connected devices gaining popularity
in addition to smartphones, financial service institutions are poised for
additional growth in mobile access,” said Sarah Lenart, vice president for
Marketing Solutions, comScore.

Nearly 14 percent of the total U.S. mobile audience (32.5 million users)
accessed mobile banking services in June 2011, up 21 percent from Q4 2010.

Mobile credit card services saw an even greater increase, with 18.4
million mobile users accessing credit card information, up 23 percent from
December 2010. Mobile auto and property insurance services also exhibited
strong gains as 7.2 million mobile users accessed insurance information on
their devices, a 19 percent increase.

With the steady growth in smartphone adoption over the past year, the
use of apps to access mobile financial information has grown as well. In
particular, mobile banking and credit card app usage have seen sizeable

12.7 million mobile users reported having used a banking app in June (up
45 percent from Q4 2010), while 6.0 million users used a credit card app (up 43

62 percent of credit card customers reported using an app to visit a
bank’s website at least once a week, and 52 percent reported checking in with
the same frequency via a mobile browser. In comparison, only 34 percent of
users responded checking into their accounts with the same frequency from a
fixed-line computer.

By Team
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