Audience Recommendations for Every Vertical
Nearly 14 Percent of U.S. Mobile Subscribers Accessed Banking Services on Their Devices
RESTON, VA, October 26, 2011 - Comscore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released an analysis of mobile financial services usage in the U.S. showing that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011 in June, representing 13.9 percent of all mobile users. The study also revealed that 12.7 million mobile users reported using banking apps, showing a notable increase of 45 percent from Q4 2010. These findings and others will be presented via a complimentary live webinar, The State of the U.S. Mobile Financial Services Industry, on October 27. For more information and to register, please visit: https://www1.gotomeeting.com/register/220422985.
“The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services,” said Sarah Lenart, Comscore vice president for Marketing Solutions. “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”
Mobile Banking and Credit Card Usage See Highest Increases in Visitation
Nearly 14 percent of the total U.S. mobile audience (32.5 million users) accessed mobile banking services in June 2011, up 21 percent from Q4 2010. Mobile credit card services saw an even greater increase, with 18.4 million mobile users accessing credit card information, up 23 percent from December 2010. Mobile auto and property insurance services also exhibited strong gains as 7.2 million mobile users accessed insurance information on their devices – a 19-percent increase.
Mobile Financial Services Usage3 Month Avg. Ending June 2011 vs. December 2010Total U.S. Mobile Subscribers Ages 13+Source: Comscore MobiLens
Mobile Financial Services Category Accessed in the Past Month
Unique Mobile Audience (000)
Dec-2010
Jun-2011
Percent Change
Banking Information
26,765
32,451
21%
Credit Card Information
14,931
18,356
23%
Auto or Property Insurance Information
6,041
7,169
19%
Brokerage or Stock Information
8,695
9,576
10%
App Usage Increased Significantly for Banking and Credit Card Servicing
With the steady growth in smartphone adoption over the past year, the use of apps to access mobile financial information has grown as well. In particular, mobile banking and credit card app usage have seen sizeable increases. 12.7 million mobile users reported having used a banking app in June (up 45 percent from Q4 2010), while 6.0 million users used a credit card app (up 43 percent).
App and Browser Usage Among Mobile Financial Services Users3 Month Avg. Ending June 2011 vs. December 2010Total U.S. Mobile Subscribers Ages 13+Source: Comscore MobiLens
Mobile App Usage
8,747
12,706
45%
4,187
6,003
43%
Mobile Browser Usage
15,439
17,561
14%
8,891
10,430
17%
Credit Card Customer Engagement Increases in Frequency through Mobile Channels
An analysis of credit card customers’ engagement with various account channels shows users reporting more frequent access through mobile channels than fixed-line computers in Q2 2011. 62 percent of credit card customers reported using an app to visit a bank’s web site at least once a week, and 52 percent reported checking in with the same frequency via a mobile browser. In comparison, only 34 percent of users responded checking into their accounts with the same frequency from a fixed-line computer.
Frequency in Channel Usage Among Credit Card Customers(Q: You indicated having accessed your primary credit card account in the past 12 months in the following way(s). Please indicate how frequently you access your account using each of these methods.)Q2 2011Source: Comscore Mobile Financial Services Advisor
Channel Usage
Percentage of Respondents
Every Day
Once Per Week
Once Per Month
Visited a local / branch office
11%
27%
31%
Call the bank via phone
5%
Visited bank's web site via PC
6%
28%
52%
Visited bank's web site via mobile browser
15%
37%
26%
Visited bank's web site via app
12%
50%
Clicked on link in text message
46%
13%
“While mobile channels have not reached the same penetration that traditional online channels have for the use of financial services, it is interesting to note that mobile users access their credit card accounts on a more frequent basis,” observed Ms. Lenart. “Digitally-savvy customers have begun to use mobile and other connected devices such as tablets to engage in online activities that once used to be limited to the computer and are doing so more frequently because of the portability and convenience offered by these devices. As users continue to incorporate the use of these devices into their everyday lives, financial services institutions can expect to see a more engaged audience grow from their mobile channels.”
State of U.S. Mobile Financial Services Webinar
Comscore director Stephanie Houck will be presenting these insights and further analysis from the Q2 2011 Comscore Mobile Financial Advisor in a webinar on October 27 from 2:00-3:00 PM ET. The Comscore Mobile Financial Advisor is a quarterly report that combines insights from Comscore MobiLens (a survey-based service) and a dedicated re-contact survey focused on mobile financial service activities. For more information and to register, please visit: https://www1.gotomeeting.com/register/220422985.
For more information on Comscore Financial Services Solutions, please contact Sarah Lenart, vice president of Comscore Marketing Solutions, at slenart@comscore.com.
About Comscore
Comscore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world and preferred source of digital business analytics. For more information please visit www.comscore.com/companyinfo.
Contact:Carmela AquinoComscore, Inc. press@comscore.com