By Tom HesterThe bank and mobile app are on the rise, with customers increasingly relying on online banking, and even more reliant on the use of mobile phones.
According to the research firm Gartner, the proportion of people using a mobile phone for banking in 2016 was almost triple the number in 2014, and more than three times the proportion using an internet banking device, including an iPhone, in 2016.
The percentage of people who use the banking app rose by nearly half to more than one-third, up from less than 1% in 2014.
The report also found that more people are using mobile banking to get around the daily grind of daily life, and a third of people are already paying for their banking via their mobile phone.
“Mobile banking is here to stay.
With more people using it, we expect that trend to continue,” said Mark Hildebrand, chief executive officer of Gartners.
“The fact that there are more mobile phone users, more mobile phones, makes it easier for customers to use their devices and more convenient for them to spend their money.”
According to Garters, people spend more than two billion hours on mobile phones each day.
The bank app for Apple devices allows users to access their banking details, including their account details, and view and manage transactions.
The app is available in the UK and Canada, as well as in other countries.
Gartner said the mobile banking app also helps users manage their bank account balance, and offers easy-to-use payments options including cash advances, debit card payments and international transfers.
“Mobile banking offers consumers a more convenient, cost-effective alternative to traditional banking,” said David Ragan, head of digital banking at Gartgers.