Smartphone adoption attracts more mobile banking users

Mobile banking service become more popular among users 18 + and currently employed. According to the survey made by Compass Intelligence about 7.2 % of mobile phone users currently use mobile banking service. The results of that research are based on the answers of 20, 000 consumers and business decision makers. They also showed that many consumers are interested in further development of mobile banking services department. A Smartphone adoption is right in time solution providing more online banking opportunities and that is even more important mobile banking security.

As Stephanie Atkinson, a managing partner of Compass Intelligence commented further smartphone adoption development is going to be a leading factor in the future adoption of mobile banking.

In fact survey showed that the mobile banking penetration rate among smartphone users achieved the impressive level of 20.5 %. This amount is even more significant comparing to just 2.7 % of users with basic handset. Obviously, consumers prefer more comfortable mobile technology and use advanced mobile devices. And this process is irreversible because the more comfortable consumers become with advanced mobile devices, the more they will seek out advanced service like wireless finance and improve mobile banking department. Survey also noted the fact that younger users (aged 18-24) are more likely to use mobile banking services especially for travelling or as enterprise-level users.