Banking Exchange Magazine Logo

Mobile outdoes branches

2015 saw mobile pass live banking; 81% of U.S. adults to use mobile by 2020

  • |
  • Written by  Website Staff
  • |
  • Comments:   DISQUS_COMMENTS
Mobile outdoes branches

Weekly mobile banking users exceeded that of weekly branch banking users for the first time ever last year, according to Javelin research.

This crossover illustrates the broader trend of digital channel engagement growing while physical channel usage is shrinking. Mobile banking has experienced significant growth with smartphone and tablet adoption. In 2015, one in ten U.S. adults began using mobile banking for the very first time—amounting to 25 million new mobile bankers.

"Mobile is on a growth path to unseat PCs to become the first screen through which bank customers interact with and judge their primary financial institution,” says Daniel Van Dyke, mobile analyst at Javelin. “Financial institutions will need to continue to innovate to outpace this increasing mobile banking adoption. With fintech start-ups and other vendors entering the space, consumers have more options than ever when it comes to mobile.”

Mobile banking, smartphone, and tablet user bases are all growing rapidly. With each new tablet and smartphone purchased, Javelin sees a precipitous rise in the number of mobile bankers. In the past five years, adoption of mobile banking and smartphones has more than doubled while that of tablets has increased roughly 8.5 times. Mobile banking is the clear winner in the digital battle between mobile and branch.

These findings are based primarily on information gathered from Javelin’s longitudinal mobile banking survey of over 3,100 U.S. consumers over the past five years. to Enlarge

back to top


About Us

Connect With Us


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.


This webinar is brought to you by:
Vouched Logo