October 28, 2011

The number of Americans using mobile banking apps increased by 45 percent between December 2010 and July of this year, according to a report released this week by digital tracking firm comScore.

According to comScore, 12.7 million mobile users reported using banking apps in a survey taken at the end of June. In total, 32.5 million U.S. consumers -- or 14 percent of the total U.S. mobile audience -- reported accessing mobile information on their mobile devices.

"The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services," said Sarah Lenart, comScore vice president for Marketing Solutions. "New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access."

In addition, 6 million consumers reported using a credit card app, up 43 percent from Q4 2010. A comScore analysis of credit card customers' engagement with various account channels shows users reporting more frequent access through mobile channels than fixed-line computers in Q2 2011. Sixty-two percent of credit card customers reported using an app to visit a bank's web site at least once a week, according to the firm, and 52 percent reported checking in with the same frequency via a mobile browser. In comparison, only 34 percent of users reported checking into their accounts with the same frequency from a fixed-line computer.

ABOUT THE AUTHOR
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...