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15pc of users prefer to check financial accounts on smartphones, tablets: study

Quicken, a personal finance management software from Intuit Inc., looked at the way users check their personal financial information. More consumers are turning to their mobile devices to better manage their money.

“We think one of the most surprising findings is that one-fourth of Americans spent more than they made last year and more than 22 percent are desperate to get their finances on track but don’t know how,” said Barry Saik, vice president and general manager at Quicken.

“Finding out where you stand financially is the first step in getting on track,” he said. “Knowing this, we have created tools that can be seamlessly integrated into peoples everyday lives, so that financial management doesn’t become a chore.”

Mobile findings
According to Quicken, two out of three users surveyed said that being able to check their finances on the go gave them peace of mind.

Moreover, more than half of users check their financial account balances on their smartphone monthly.

One in three consumers admitted to losing sleep over money woes.

The study also found that consumers increasingly use their smartphones and tablets to price compare, with 23 percent of smartphone users saying they would not make a major purchase if they cannot check their finances from their phone.

According to Quicken, one fourth of Americans spend more than they make and 22 percent are desperate to get their finances on track but do not know how.

Mobile helps users try and solve that problem.

This study is proof that the mobile space is growing and consumers are increasingly turning to their mobile devices to not only browse financial information, but view their current finances while on the go.

“Fifteen percent of those surveyed say they prefer to check their financial accounts on a smartphone or tablet and that number is only going to grow in the next five to ten years,” Mr. Saik said.

“The future of finances and financial management is mobile as it allows people to make quick and informed decisions on the go,” he said.

“That’s why we continue to build technologies that meet our customers’ lifestyle so we can be with them every step of the way.” 

Final Take
Rimma Kats is associate editor on Mobile Commerce Daily, New York