by: Brian Day
A new study shows those who use mobile banking are among the most loyal and happy financial institution (FI) customers/members. As consumers become increasingly comfortable with and accustomed to mobile banking, their allegiance and satisfaction is on the rise.
The recent survey of U.S. FI consumers revealed 82 percent of mobile banking app users are satisfied with their FI. Further, 76 percent of app users are likely to recommend their FI to others. Not surprisingly, the survey, conducted for FICO, also found younger consumers engaged more with their FIs via mobile devices. Seventy percent of survey respondents between the ages of 25 and 34 use a mobile banking app. Among customers between ages 35 and 49, that number dropped to 54 percent. Just 36 percent of survey participants over the age of 50 said they use mobile banking apps.
Additionally, Millennials are more likely to interact with their FIs through text messages. Sixteen percent said they would prefer text messages over other forms of communication, including emails and phone calls. Just 9 percent of the respondents between ages 35 and 49, and 5 percent of those over the age of 50, expressed the same preference.
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