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Mobile banking app usage in US increases 45pc: study

The study found that approximately 14 percent of United States mobile subscribers accessed banking services via their handsets. The study proves that more consumers are turning to their mobile devices for their financial needs.

Mobile usage
The comScore study found that mobile credit card services saw an increase with 18.4 million mobile users accessing credit card information – up 23 percent from December.

Additionally, mobile auto and property insurance services also saw an increase with 7.2 million mobile users accessing insurance information – a 19 percent increase.

The study also found that 9.6 million users accessed brokerage or stock information, which was a 10 percent increase from December.

ComScore also found that app usage increased significantly for banking and credit card services.

The study found that 12.7 million mobile users reported having used a banking app in June. This is up 45 percent from the fourth quarter of 2010.

In addition, 6 million users used a credit card app – up from 43 percent in December.

Credit card customer engagement has also increased in frequency through mobile mediums, per comScore.

The study found that 62 percent of credit card customers reported using an app to visit a bank’s Web site at least once a week.

Additionally, 52 percent reported checking in with the same frequency via a mobile browser.

The study also saw that only 34 percent of users responded checking in their accounts with the same frequency from a fixed-line computer.

Banking needs
The study shows how essential mobile banking is.

Consumers are always on the go and have their mobile device on hand.

Financial institutions such as Chase and Capital One are seeing the advantages of mobile and using it to cater to their customers.

Final Take
Rimma Kats is staff reporter on Mobile Marketer, New York