Mobile apps drive banking "revolution"

Brits are checking their balances via mobile apps 7,610 times a minute

Forget heading down to the local bank branch - or even its website: bank customers are twice as likely to check their balance via a mobile app than a desktop website, according to stats from the British Bankers Association (BBA). 

Cumulatively, Brits logged into their mobile banking apps 11 million times a day last year, up from seven million in 2014. 

Meanwhile, visits to banking websites slid to 4.3 million a day in 2015 from 4.4 million the year before. 

The "Way We Bank Now" report pins the shift to the speed of mobile apps, which allow customers to access their balance and send payments even more quickly than a website. 

Advertisement
Advertisement - Article continues below

While logins to banking apps were twice as often than websites, Brits remain more likely to send payments via desktops than mobile. We sent 417 million payments via banking websites last year versus 347 million on apps - but the latter was up 55 per cent.

"We are in the midst of a consumer-led revolution in the way we do our day-to-day banking," Anthony Browne, BBA CEO, said. "Customers love the new technology that is allowing us to bank round the clock."

"You can set up standing orders while standing in the queue for the bus and check your balance while checking in at the airport," he added. "The choice now on offer from banks, from state-of-the-art branches to cutting edge apps, has put customers firmly in the driving seat on the way we bank."

Featured Resources

The IT Pro guide to Windows 10 migration

Everything you need to know for a successful transition

Download now

Managing security risk and compliance in a challenging landscape

How key technology partners grow with your organisation

Download now

Software-defined storage for dummies

Control storage costs, eliminate storage bottlenecks and solve storage management challenges

Download now

6 best practices for escaping ransomware

A complete guide to tackling ransomware attacks

Download now
Advertisement

Most Popular

Visit/cloud/microsoft-azure/354230/microsoft-not-amazon-is-going-to-win-the-cloud-wars
Microsoft Azure

Microsoft, not Amazon, is going to win the cloud wars

30 Nov 2019
Visit/hardware/354237/five-signs-that-its-time-to-retire-it-kit
Sponsored

Five signs that it’s time to retire IT kit

29 Nov 2019
Visit/business/business-strategy/354252/huawei-takes-the-us-trade-sanctions-into-its-own-hands
Business strategy

Huawei takes the US trade sanctions into its own hands

3 Dec 2019
Visit/mobile/mobile-phones/354273/pablo-escobars-brother-launches-budget-foldable-phone
Mobile Phones

Pablo Escobar's brother launches budget foldable phone

4 Dec 2019