Business and Finance
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The report leverages multiple comScore data sources to provide a comprehensive view of the mobile financial services market, including an overview of the current U.S. mobile landscape and insights into the mobile banking, credit card, insurance and brokerage sectors.
3G and Smartphone Users Most Likely to Access Accounts Via Browser, Applications a Close Second
Mobile financial services adoption is highly dependent upon device technology and high bandwidth (3G) networks. A study of how mobile users access their banking accounts found that mobile Web browsing ranked as the most popular method for both smartphone (44.1 percent) and 3G users (53.3 percent), followed closely by mobile applications (48.1 percent of 3G users and 40.6 percent of smartphone users).
The relative parity among usage of browsers vs. applications for access to mobile banking indicates the growing importance of ease of use for accessing accounts and conducting transactions. Interestingly, the percentage of mobile bankers who used texting (SMS) for access to their account information was substantially higher among 3G users (41 percent) than Smartphone users (25 percent).
Mobile Banking Access by Device Technology March 2009 Source: comScore Mobile Financial Services Report % of Smartphone % of 3G Users Users Who Who Mobile Mobile Bank Bank Via Internet Browser 44.1 53.3 Via Application 40.6 48.1 Via SMS 25.0 41.0"The increasing adoption of smartphones and access to 3G networks, along with the rapid development of mobile apps, have created a fertile environment for the acceleration of mobile banking," said
Convenience of Mobile Banking Important, Even at Home
The comScore report offers unparalleled insight into the usage patterns of mobile financial services users, including their preferred points of access. The largest percent of mobile customers, 31 percent, access their financial accounts primarily from home, even though many households have PC-based Internet available as well. Another 25 percent conduct transactions when running errands, while 15 percent do so during their commute. Nine percent of respondents indicated that they primarily access their accounts while on vacation, and 8 percent do so primarily while traveling for business.
Q: Where do you primarily access your financial accounts via your mobile phone? March 2009 Source: comScore Mobile Financial Services Report Location Percentage of Mobile Financial Services Users At home 31% Running errands 25% Commuting 15% At work 11% Away on vacation 9% Away on business travel 8%For more information on the report, Mobile Financial Services: The Market Today & Opportunities for Tomorrow, and registering for the webinar, please visit: http://www.comscore.com/Press_Events/Presentations_Whitepapers/2009/The_State_of_Mobile_Financial_Services
About comScore
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