Bank Branches Still in Demand Despite Mobile Banking Growth
The increased use of mobile banking apps isn’t stopping people from visiting their local branches, according to a new survey from OnePoint Global. The study assessed how mobile banking customers from the United States and United Kingdom interact with their banks, and found that 77% of customers who have a banking app had still visited their local branch within the last month.
A staggering 97% of mobile banking consumers said they used their mobile banking app at least a few times per month, and more than half (51%) said they used it multiple times a week.
Mobile banking has grown tremendously over the last few years. The industry is expected to reach over one billion users by the end of this year. A recent study from the American Bankers Association shows that 45% of mobile device owners in the United States use mobile banking apps at least once per month, but this study from OnePoint Global indicates this growth is not going to stop customers from going inside the branch.
For the most part, customers use mobile banking apps to conveniently monitor their accounts. The survey showed 62% of customers primarily use their apps to check their balances. The majority of participants rated their mobile banking app as “easy and convenient,” even though they still chose to visit their banks in person throughout the month.