Rapid Growth in Mobile Banking

Rapid Growth in Mobile Banking

December 3, 2012         Written By Bill Hardekopf

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.

This entry was posted in Credit Card News and tagged Javelin Research , smartphones , tablets , mobile apps , mobile banking

The information contained within this article was accurate as of December 3, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : 2% cash back on purchases: 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus