Business Strategy: 2014 U.S. Consumer Channel Preference Survey -- Mobile Banking Achieves Steady Progress; Looking for the Next Big Thing

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Business Strategy: 2014 U.S. Consumer Channel Preference Survey -- Mobile Banking Achieves Steady Progress; Looking for the Next Big Thing

This IDC Financial Insights report discusses the findings of our 2014 Consumer Channel Preference Survey of global banking and credit union customers. Mobile banking continues its progression toward becoming the integral part of the consumers interaction with their bank or credit union. However, despite all the attention of mobile banking, the reality is that the conveniences offered by mobile banking must continue to innovate or we may continue to see weak adoption.

IDC Financial Insights did not anticipate such an abrupt slowing of mobile adoption. In fact, IDC Financial Insights predicted that by 2015, there will be more penetration in mobile banking than online banking. While this may still come to fruition as online banking usage continues to mature and shrink, unless there is a new hook, mobile banking may have also peaked.

"Mobile banking has historically had a few false starts. The first wave of growth came with the large growth of smartphones. The next wave came with a new service of depositing checks using the mobile phone camera," according to Marc DeCastro, research director of Customer-Centric Bank Strategies at IDC Financial Insights. "The challenge will be to determine what will create the next wave of expansion and position your organization to be able to properly time and launch whatever product or service comes next from mobile banking."

Table of Contents

IDC Financial Insights Opinion

In This Study

Demographic and Survey Methodology

Situation Overview

Financial Institution Respondent Mobility Demographics

The Approach

Mobile Platform Usage and Propensity

Future Outlook

Essential Guidance

Actions to Consider

Learn More

Related Research

Synopsis

Figure: Mobile Phone Status by Age Group

Figure: Mobile Phone Status by Household Income

Figure: Respondents by Primary Financial Institution Usage: Mobile Phone Owners and Mobile Banking Owners

Figure: Smartphone Users by Platform Type

Figure: Mobile Phone Owners Banking Preference by Channel

Figure: Mobile Phone Usage by Mobile Phone Owners

Figure: Mobile Phone Channel Satisfaction by Mobile Phone Owners

Figure: Mobile Phone Channel Satisfaction by Mobile Banking Customers

Figure: Channel Drivers by Mobile Banking Users

Figure: SMS/Text Messaging Usage

Figure: Downloadable Applications Usage

Figure: Mobile Web Usage

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Business Strategy: 2014 U.S. Consumer Channel Preference Survey -- Mobile Banking Achieves Steady Progress; Looking for the Next Big Thing
http://www.reportbuyer.com/banking_finance/online_banking/business_strategy_2014_u_s_consumer_channel_preference_survey_mobile_banking_achieves_steady_progress_looking_next_big_thing.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=NoCategory

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