In cooperation with Google Consumer Surveys, Webpals Mobile has disclosed that over 72% of consumers questioned trust syncing their personal finances on their mobile phones.
The survey, derived from a sample of 500 18 to 65+-year-olds based in the United States, shows clear signs that Mobile banking apps is becoming main channel of choice – a theory that some industry experts already predicted.
As confidence and trust in mobile banking continues to rise, Webpals’ findings reveal over 60% of consumers use financial apps for everyday banking and 70% of respondents used a mobile finance app in the last week – indicating just how widespread and accessible they have become.
Most banking apps offer immediate services such as: viewing account balances, budgeting, tracking expenses paying bills and transferring money in their apps, yet one issue faced by banks is the apps ability to give personalised customer service.
However, 56% of the survey’s respondents reported that they feel the level of customer service on apps is ‘the same’ as in person.
CEO of the parent ‘Webpals Group’ Inbal Lavi said that the survey highlights how technology and finance has advanced to the consumers need.
She said: “Today’s banking customers want the ease of financial apps but the same trust and respect they have been accustomed to for years with traditional banking.
“While potential customers are often familiar with brick and mortar branches, we can expect to see a steady increase in the rise of mobile finance consumers.”
A further 33% of respondents reported to having no other personal finance app downloaded on their phone other than their bank’s app.
