Trends Tool

Feelings Of Accomplishment Increase Mobile Banking Engagement

A Forrester Data Snapshot

June 16th, 2016
With contributors:
Reineke Reitsma , Theresa Pappafotopoulos , Xiaotong Duan

Summary

Our behavioral tracking data shows that over half of US smartphone owners now access finance/banking apps on their phones monthly. Checking account information is most common, but more sophisticated activities like transferring funds, depositing checks, and paying bills are growing in popularity. Forrester’s Consumer Technographics® data shows that this leads to decreased usage of other channels, namely branch visits and phone calls to the bank. Mobile touchpoints will be the hub of banks’ future relationships with customers. But creating and maintaining mobile app engagement with users is a challenge. This data snapshot shows how attitudes toward mobile banking apps affects engagement among banking app users.

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