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Updated: August 05, 2013

Blog Detail - The State of Mobile and Tablet Banking

By Daniel Steere, Director Product Management, Mobile Payments, Fiserv

Consumers are increasingly banking through mobile and tablet devices, yet that general trend is only the tip of the iceberg when it comes to changes in how consumers use these channels. To illustrate the trend, we've rounded up some of the most compelling mobile and tablet statistics from the 2012 Fiserv Consumer Trends Survey. This survey, which captures consumer banking preferences and behavior, was originally released to clients late last year. The survey captured responses from 3,000 consumers, whose insights help Fiserv and our clients set priorities for product innovation and delivery.

Overall, the survey shows mobile adoption and growth moving beyond the trendsetting Gen Y (ages 21-32) consumer group. And as tablets have rapidly entered the mainstream, consumers are expecting an experience tailored to this unique channel.

Other notable findings included:

  • The number of mobile banking users increased by 33 percent in 2012, to almost 25 million U.S. households
  • Mobile banking usage grew fastest among Gen X consumers, yet they still trail Gen Y consumers for overall usage among the generations
  • Apps are becoming the preferred way to access mobile banking – the number of consumers using mobile browsers or text for banking declined
  • Checking balances is the dominant mobile banking activity, while over a third of users also pay their bills, transfer funds and view statements via mobile
  • The survey indicated tablet ownership jumped from 19 percent in 2011 to 32 percent in 2012 – and we expect that to soon approach 50 percent
  • Almost half of tablet owners use their device for online banking access and we anticipate continued fast growth as consumers desire a more engaging digital banking experience

The infographic below is best viewed in full screen. Please click the icon below the lower-right corner of the graphic to maximize the image.