Rapid Growth in Mobile Banking

Rapid Growth in Mobile Banking

One-third of mobile consumers use smartphones or tablets for banking, up from 24 percent in 2011, according to a new report from Javelin Strategy & Research.

To meet this demand, more than two-thirds of financial institutions now offer mobile banking through the mobile web, downloadable app, and texts which can be accessed via smartphones, tablets and feature phones. The report found that mobile app banking has increased during each of the past three years, while mobile web banking has dropped.

Half of the top 25 financial institutions in the United States are offering mobile person-to-person transfers and remote deposits.

The report shows that access to mobile banking services continues to be a problem for many consumers. Nearly 14 percent of customers reported problems in this area, more than triple the 4 percent reported in 2009. The report recommends that financial institutions widen their access to meet the variety of devices that its customers use.

Capital One® Platinum Prestige Credit Card
View Offer

Capital One® Platinum Prestige Credit Card

Top Features: 0% Intro on Purchases and Balance Transfers until February 2016

Editor Rating:

Chase Slate®
View Offer

Chase Slate®

Top Features: 0% intro APR for 15 months plus no balance transfer fees within the first 60 days

Editor Rating:

Capital One® Quicksilver® Cash Rewards Credit Card
View Offer

Capital One® Quicksilver® Cash Rewards Credit Card

Top Features: 1.5% cash back on all purchases, 0% intro on purchases and balance transfers until August 2015

Editor Rating:

Barclaycard® Ring MasterCard®
View Offer

Barclaycard® Ring MasterCard®

Top Features: Low 8% (V) APR on purchases and balance transfers

Editor Rating:

Capital One® Venture® Rewards Credit Card
View Offer

Capital One® Venture® Rewards Credit Card

Top Features: Unlimited 2x miles on every purchase, every day

Editor Rating: