Menu
Banking Exchange Magazine Logo
Menu

Tablets becoming top choice for banking

30% of tablet owners prefer the device to contact banks

Tablets becoming top choice for banking

Tablets are becoming the primary device used for a variety of mobile banking tasks, with about one in three consumers pointing to tablets as the mobile device he or she primarily uses to email the financial institution, says Javelin Strategy and Research.

It predicts that by 2018, 138 million adults will access bank accounts through tablets.

Its study finds that tablet adoption has reached the 50% crossover point, just four short years after Apple introduced the iPad. While tablets are still largely consumption and not productivity machines, indications are strong that they will replace the laptop’s role in American family life.

Users also turn to tablets at higher rates for advanced mobile banking tasks. Just over three in ten mobile bankers view and pay bills using a browser on the tablet. As ownership rates rise, mobile banking primarily through tablets is expected to become more common.

“The biggest constraint to consumer tablet banking in the next several years is the speed at which financial institutions adapt to consumers’ changing technology needs to provide robust tablet banking apps, especially for the complex Android market. Financial institutions have worked diligently to finesse mobile banking for smartphone users, but they are less prepared for tablet bankers,” says Mary Monahan, executive vice president and research director, Mobile at Javelin.

John Ginovsky

John Ginovsky is a contributing editor of Banking Exchange and editor of the publication’s Tech Exchange e-newsletter. For more than two decades he’s written about the commercial banking industry, specializing in its technological side and how it relates to the actual business of banking. In addition to his weekly blogs—"Making Sense of It All"—he contributes fresh, original stories to each Tech Exchange issue based on personal interviews or exclusive contributed pieces. He previously was senior editor for Community Banker magazine (which merged into ABA Banking Journal) and for ABA Banking Journal and was managing editor and staff reporter for ABA’s Bankers News. Email him at [email protected]

back to top

Sections

About Us

Connect With Us

Resources

Webinar: From KYC to IDV

How three leading banks are utilizing cutting-edge
digital tools to onboard, win, and wow customers

Time/Date: June 23, 2021 11:00 a.m. ET

Digital adoption, already moving at warp speed, accelerated seven years into the future during the COVID-19 pandemic. As the number of bank branches continues to fall, with at least one study predicting all branches will disappear by 2034 (Fox Business) and foot traffic declining (Vox), today’s most innovative banks are charting a new, digital-first path to win over customers while increasing security, meeting KYC compliance requirements, and winning customers to drive revenue.

In this webinar, you’ll hear from John Baird, Founder & CEO of Vouched, Tyler Crawford, COO of Bankers Healthcare Group, Anand Sathiyamurthy, CPO of Flagstar Bank and Daniel Sheehan, Chairman & CEO of Professional Bank as they describe their vision for digital transformation and how customer expectations are changing to digital first. They’ll also explore how fostering an innovation mindset creates new ways to tackle complex KYC problems and allows them to quickly compete in new markets and win customers.

REGISTER NOW!

This webinar is brought to you by:
Vouched Logo