With more and more people using smartphones now, mobile banking has been growing a a tremendous pace. According to the recent study by Nielsen company, there are more then 13 million mobile subscribers who are using mobile web banking, the number is up around 129% in just two years.
Other important fact which came out of this study was that the customers who are using their mobile phone for web banking are much younger, male and more ethically diverse then the ones who still prefer online banking. 36% Mobile web banking customers are between ages of 25-34 years, while only 18% of the them prefer online banking. On the other hand only 43% males prefer online banking as compared to 53% who prefers banking through mobile phones.
The largest group of mobile bankers are still people who use SMS texting from either their smartphone or a standard phone. Mobile banking SMS users vary demographically from mobile web users who uses apps or mobile sites of the banks, Most the sms texting customers are older as compared to the population who uses apps or websites as 48% of the users are older then 35 years of age.
According to Sr. Director, Mobile Marketing at The Nielsen Company,
People who are comfortable using their mobile phones for mobile banking tend to check their mobile bank site twice a week. These customers are already highly engaged and eager for real-time solutions based on their specific needs.