The American Bankers Association (ABA) recently commissioned a survey that showed nearly three-quarters of consumers are choosing to access their bank accounts through online and mobile platforms.
ABA officials said work conducted by Morning Consult also showed the number of those who identified online banking via laptop or PC as their top option rose to 42 percent while those who used mobile banking grew to 30 percent, up 4 percent compared with last year’s survey.
“As digital mediums become omnipresent in consumers’ everyday lives, banks have invested in these channels to help people more seamlessly manage their accounts,” said Nessa Feddis, ABA’s senior vice president and deputy chief counsel for consumer protection and payments. “Banks offer a variety of options for people to securely access their money at any time in the way that is most convenient for them – whatever their preference.”
The report also noted 18 percent of consumers continue to conduct their transactions in person at their bank’s branch most frequently.
The survey was initiated from Sept. 11-12, 2018, among a national sample of 2,201 adults, interviews were conducted online and the data weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region.
“Mobile banking has truly gone mainstream in recent years and continues to gain traction among consumers of all ages,” Feddis said. “At the same time, banking in person at branches has consistently maintained its appeal to a large number of people. While many consumers have a favorite banking channel, we’re continuing to see most bank customers using a mix of the account management methods available to them.”