Mobile device users bank via phone the old fashioned way

By Marc DeCastro, IDC Financial Insights Community |  Mobile & Wireless, banking, mobile phone

Used SMS / text messaging

26.3%

10.5%

3.2%

15.5%

So as we can see, across all demographics, calling the toll free number was the preferred way to interact with their financial institution using the mobile device. Age begins to differentiate as we look at other platforms however. When we look at those under 30, they are almost 7 times more likely to use SMS than those over 50. Clearly growing up using SMS resonates with these individuals. The browser however seems to be the preferred digital delivery of financial data amongst the respondents.

Sometimes things are as obvious as the nose on your face. Ask most in the industry what the preferred method of using mobile banking is and the answer will likely run the gammit from SMS, to browser, to downloaded applications - but very few will point out that the phone is still our preferred way to get information on the go.


Originally published on IDC Financial Insights Community |  Click here to read the original story.
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