The survey also found large generational differences in the way customers interact with their banks that could have business implications. Specifically, 70 percent of Millennials, aged 25-34, said they use mobile bank apps. The percentage fell to 54 percent for customers aged 35-49. Among customers aged 50 or older, just 36 percent said they used their banks' mobile apps.
In addition, Millennials were more likely than older customers to interact with their banks via text messaging. While 16 percent of Millennials expressed a preference for texting over other means of communication, 9 percent of customers aged 35-49 and 5 percent of customers 50 or older expressed that preference.
Regarding the actual usage of mobile banking apps, 63 percent of Millennials surveyed used their banks' mobile apps. The percentage dropped to 54 for people aged 35-49, and to 36 percent for people aged 50 or older.
"With pressure growing from mobile and web-based financial service providers, traditional banks are finding it extremely important to keep existing customers engaged and satisfied," said Vonk. "Mobile apps give banks the opportunity for frequent, positive interactions with customers, especially Millennials, an even larger generation than the Baby Boomers. It's an opportunity banks can't afford to miss."
The survey of 991 U.S. banking customers was conducted online between March 5 and March 15, 2014.
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