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Mobile apps digging in

25% growth rate seen year-to-year in providers

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Mobile apps digging in

Mobile banking apps continue to gain traction, according to the latest in a series of surveys by Malauzai Software.

The firm examined the mobile app usage of 7,754 U.S. financial institutions with assets between $50 million to $15 billion. Key findings include:

• Between 2014 and 2015, there was a 25% growth rate of financial institutions with consumer mobile banking apps.

• Of institutions with iPhone apps, 99% also provide Android apps and 61% provide iPad apps.

• There were 150-plus business mobile apps specifically built for businesses and 140-plus apps for stand-alone remote check capture.

• The upper Midwest currently has the highest penetration of mobile banking apps among financial institutions.

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Webinar: Real-Time Payments in the U.S. Market

Time/Date: June 16, 2021 2:00 p.m. ET

The U.S. has come a long way in its journey to real-time payments, with TCH and Zelle in market and FedNow just around the corner. COVID-19 has accelerated that demand to move to real-time. Yet many financial institutions remain unconvinced of the need to move, with less than 3% of financial institutions signed up today.

In this Banking Exchange hosted webinar Celent’s Gareth Lodge, Senior Analyst, Global Payments, and Alacriti’s Mark Ranta, Payments Practice Lead, discuss the findings in the Celent research report, Real-Time Payments in the US Market: Speeding Up or Slowing Down? A Call to Arms.

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