by. Michael Ogden
How important is offering mobile access to customers to the financial industry today? New smartphone lending data from CUNA Mutual Group answers that question:
- 63% of adult smartphone owners use phones to go online.
- 34% of those do online searches on their phones rather than a computer.
More to the point, mobile website optimization for smartphones/tablets are key business practices to ensure financial institutions don't miss any demographic segment (boomers, millennials, everyone). For instance, the "Consumers Want Better Mobile Banking" studydiscovered this stat:
- 1 in 6 millennials say poor mobile experience will cause them to find a new financial provider.
Here's the thing: mobile-optimized sites allow smartphone/tablet users to show and compare products easily, whenever and wherever they want. Major purchases, such as buying a new car, are happening on mobile devices. I give you this stat from "Mobile Device Use at the Dealership:"
- 63% of auto shoppers researched & shopped on their mobile device while at the dealership.
Even inside our own building, we are watching dramatic increases in mobile lending trends. Just look at the graphic below!
