Should you be Developing Mobile Banking Apps?


It is very necessary to ascertain the feasibility of the idea to ensure you are heading in a right direction, particularly when stakes are high. In the very context, statistics prove to be useful since you get to know about consumer and market insight.

Below mentioned are few statistics that you can use if you are considering mobile banking app development.

  1. 550 Million people will use mobile banking services by 2016, up from 185 million in 2011. Source: Juniper Research
  2. Over 1 Billion mobile users will use mobile banking by 2017. Source: Juniper Research
  3. 80 per cent of mobile bankers will pay bills via a mobile device by 2016. Source: Juniper Research
  4. The mobile banking transactions market in Europe in 2013 is €4–€5 Billion. Source: National Retail Federation
  5. 90 per cent of mobile banking customers use their devices to check their balances and recent transactions while 42 per cent use them to transfer money. Source: Federal Reserve Mobile Device Report
  6. 57 per cent of smartphone owners in United States use mobile banking features. Source: Compete
  7. 56 per cent of tablet owners in United Kingdom use financial or banking apps. Source: Lightspeed Research
  8. 73 per cent of smartphone owners in United States trust their current banks with mobile payments, compared to 62 per cent of standard mobile phone owners. Source: Market Strategies International

If you want to create mobile financial app or have a requirement for mobile banking app development, you can request our free initial consultation and quote.

We have also built one such app, see Loan Manager.


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