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Mobile Banking Use Rises Sharply in U.S.

A comScore report finds that American consumers used mobile banking apps with increasingly higher frequency in 2011 than in the previous year.

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.

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 a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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