Mobile banking increasing among Americans, apps show big growth

use of mobile banking apps increasing among americansNot everyone with a smartphone and a bank account is comfortable about banking on the move, though figures released by research firm comScore this week suggest more and more of us are discovering it works just fine.

According to comScore, 32.5 million Americans used their mobile device to access banking information during the quarter ending June 2011, which equals 13.9 percent of all mobile users in the US. That marks a 21 percent increase on the quarter ending December 2010, when 26.7 million used their mobiles for banking.

The figure of 13.9 percent may seem small to some, but over time, as financial institutions offer better mobile sites and apps, and reassure users that security for online banking is improving all the time, more and people are certain to give it a try.

use of mobile banking apps increasing among americans comscore 1

The figures also revealed a big leap in the use of banking apps, with 12.7 million mobile owners using them during the quarter ending June 2011. That’s a significant 45 percent increase on the quarter ending December 2010.

use of mobile banking apps increasing among americans comscore 2

comScore’s vice president for Marketing Solutions Sarah Lenart commented on the findings, saying: “The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services.”

She added: “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”

As long as none of the major banks mess up in a major way regarding online security with its mobile sites and apps, and the more features those sites and apps can offer users, we’re bound to see a gradual increase in the coming years in those turning to their smartphone or tablet for banking information.

[Image courtesy of Slavoljub Pantelic / Shutterstock]

Mobile

Taking shots in the dark with Night Sight, the Pixel’s newest photo feature

The Google Pixel range has always been the home of some of the mobile world's best phone cameras. That performance is now getting even better with the introduction of the low-light Night Sight mode.
Home Theater

What is MHL, exactly, and how does it work with your TV?

There are more ways to mirror your smartphone or tablet to your TV than you might think. Check out our rundown of MHL for everything you need to know about the wired protocol and its myriad uses.
News

Zoom in on famous works through the Art Institute of Chicago’s new website

Art lovers, listen up. The Art Institute of Chicago has given its website a serious makeover with new features that let you get up close and personal with more than 50,000 artworks by famous (and not so famous) artists.
Home Theater

From the Roku Ultra to the Fire TV Cube, these are the best streaming devices

There are more options for media streamers than ever, so it’s more difficult to pick the best option. But that’s why we're here. Our curated list of the best streaming devices will get you online in no time.
Computing

Want to set up your own virtual private network? Here's how

Take a look at our walkthrough for creating a virtual private network and why it is beneficial for more than just increased privacy and security. We go step by step, detailing how to set up a VPN in both MacOS and in Windows 10.
Product Review

Mediocre battery and a big notch slight Google's otherwise perfect Pixel phone

Google’s Pixel 3 XL has two big flaws: The gigantic notch on the front, and mediocre battery life. That being said, this is the best Android experience you can find in a smartphone today.
Mobile

Netflix is testing a cheap mobile-only subscription tier in some markets

Netflix is trying to reach potential subscribers in emerging markets. To that end, the company has begun rolling out a cheaper, mobile-only subscription tier, which comes at around $4 per month -- half the price of the Basic subscription…
Mobile

Upcoming Galaxy S10 may support 8K video and have Neural Processing Unit

While we still may be months away from an announcement, there's no doubt about it: Samsung is working hard on its successor to the Galaxy S9. Here's everything we know about the upcoming Samsung Galaxy S10.
Music

Here's our head-to-head comparison of Pandora and Spotify

Which music streaming platform is best for you? We pit Spotify versus Pandora, two mighty streaming services with on-demand music and massive catalogs, comparing every facet of the two services to help you decide which is best.
Mobile

Samsung will reportedly announce its folding smartphone at MWC in February

Samsung has been showcasing bendable display tech for a few years and now a folding smartphone might finally arrive. The Galaxy X, or perhaps the Galaxy F, may be the company's first example. Here's everything we know about it.
Mobile

Check out 30 of the best iPhone games you need to be playing

The iPhone has some of our favorite games available for any mobile platform. Here are the best iPhone games for every big-name genre, whether you're into puzzles, strategy, or something else entirely.
Mobile

Text messages are disappearing on Pixel 3s, but a fix is on the way

The Google Pixel 3 and Pixel 3 XL are arguably the best Android phones out there right now -- but they aren't perfect. Users have reported a number of issues and problems related to the Google Pixel 3 and Pixel 3 XL. Here's how to fix them.
Mobile

Get ready for more V-series phones: LG trademarks names up to the V90

It looks like we should get ready for more LG V-series phones. LG has trademarked names for the LG V50 all the way up to the LG V90. We may have to wait some time before we see these phones; the next LG flagship is expected to be the LG G8.
Deals

All the best Amazon Black Friday deals for 2018

Amazon may be an online-only retailer, but that doesn’t mean its Black Friday sales are anything to sniff at. In fact, due to its online status, Amazon has huge flexibility with the range of products and deals it can offer. Here's our…