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More Mobile Banking Does Not Make Customers Happier


Here’s a riddle: Does more mobile banking make consumers like their financial institution?

The answer, alas, appears to be no. That according to a new survey released today by Fiserv, the financial technology company.

The study, which polled around 3,000 consumers, found that millennials lead in frequency of mobile banking use by a significant margin: over a 30-day period, millennials accessed their financial organization via mobile app or browser 8.5 times on average versus 3.1 times for non-millennials.

But those same millennials, however, reported lower satisfaction than their older counterparts both with their primary financial organization (69% vs. 79%, respectively) and their financial health (32% vs. 38%, respectively). By our read, that means the heaviest mobile banking app users did not like their financial institutions more than lighter users — and, remarkably, they did not even feel better about their finances.

For more on this story visit the following link: More Mobile Banking Does Not Make Customers Happier

Source: Bank Innovation

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