15 fast facts about mobile banking

As the way people bank continues to evolve, and as credit unions embrace new technology as a means to gain and retain members, here is a look at 15 insightful and interesting facts about mobile banking technology and how members are using their mobile phones:

  1. In 2015, the number of weekly mobile bankers exceeded weekly branch bankers, thanks in large part to Millennials.
  2. 75% of Millennials are at least somewhat reliant on a mobile banking app to interact with their bank for tasks such as depositing or sending checks, checking their balance, and paying bills.1
  3. More than one-quarter (27%) of Millennials are completely reliant on a mobile banking app.1
  4. Just how reliant? 21% of Millennials have never written a physical check to pay a bill. 39% use three or more methods (PC, mobile, snail mail) to pay their bills. 38% use apps and mobile tools to make bill payments and view statements. 43% use apps and mobile tools to view bills and transaction histories. 24% use apps and mobile tools to set up automated recurring payments.
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