A survey released by the American Bankers Association found that most American consumers have positive views of their bank’s mobile app or online banking features.
Specifically, 93 percent of Americans rated their bank’s online and mobile app experience as “excellent,” “very good,” or “good,” according to the survey, conducted by Morning Consult for the ABA. It also revealed that 70 percent use a mobile device to manage their bank account at least once per month, while 46 percent do so more than three times per month. Additionally, 29 percent said they used a mobile app to make a payment or transfer money within the past year, including 44 percent of younger adults (18 to 34 years old).
The most-used mobile payment apps are Paypal (67 percent), their bank’s app (33 percent), Venmo (29 percent), Zelle (23 percent), Apple Pay (20 percent) and Starbucks (12 percent). Also, 16 percent) said they would be willing to switch banks for a better digital experience.
“As fewer people carry around cash and checkbooks, more and more consumers are turning to mobile payment apps to split a tab, send money to family or even pay their rent,” Nessa Feddis, ABA’s senior vice president and deputy chief counsel for consumer protection and payments, said. “This survey shows that Americans increasingly appreciate and like the innovative and personalized services banks offer. These data also reveal why bank investment in new technology is so important.”
This poll was conducted with 2,201 adults from Sept. 11-12.