Why is mobile banking so popular?

[Guest Post]


Banking using mobile devices has grown in popularity in the last year - among thinkbanking customers at least, to cite one study.

At thinkbanking, overall visits to the site increased by 161% between May 2011 and May 2012. During this time:

  • Visits from Macs and PCs (including laptops) rose by 137%.
  • Visits from iPhones rose by 266% - the lowest rise for mobile devices, although the iPhone is still the most popular mobile device overall.
  • Android smartphone and tablet visits increased by 518%.
  • iPad visits rose by a massive 909%.

Overall, visits from mobile devices between May 2011 and May 2012 rose by 497%.

What's so good about mobile banking?

It's clear from these results that mobile banking is a popular way to manage your finances - but why?

There are a few factors, the biggest being (perhaps rather obviously) the idea that you can check on your bank account anywhere and at any time. This is especially important during these economically tough times, when people want to keep a close eye on their funds. People are getting more and more used to being able to do various tasks - like check their emails and their bank balance - that would originally be done on a computer on a mobile device instead.

And technology has made it easier - a lot of banks now have their own dedicated app for users to access their services on their mobile devices. Banking websites are also being optimised to fit on different-sized screens - such as tablets and smartphones.

What's in store for the future?

Many people have embraced mobile banking - but there are still some concerns about security to be addressed. The head of PR and communications at thinkbanking, Ian Williams, said: "provided banks offer the same safeguards and guarantees as they do on internet banking services, it's likely that more and more people will start to take advantage of the benefits mobile banking can bring."

Plenty of people are already used to the idea of mobile banking and are now interested in 'contactless' payments. Everything Everywhere (Orange and T-Mobile), O2 and Vodafone are already developing a mobile payment platform named 'Project Oscar'.


chnlove said…
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