Online banking’s transition into a mobile-first activity marked an important milestone in the ascendency of smartphones. And as today’s Chart of the Day shows, there’s good reason for prominent Western bank brands to optimize their services for mobile.
45% of current Barclays customers say that smartphones are their most important device for getting online. It’s Barclays’ younger demographic who are most likely to say this, especially among 25-34s (on almost 7 in 10). But even among the oldest age group (55-64s), it’s still 16% choosing mobiles as their most important device.
The convenience and on-the-go lifestyle suitability of mobiles gives them a key advantage here. Although European online bankers are still slightly more likely to managing their finances via PCs/laptops, with rates of mobile banking rising each quarter and the smartphone now firmly established as one of the most commonly owned and most important devices, it’s clear that smartphones are the future of online banking.
For more information on the European online banking landscape, clients can download our European banking infographic here.