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16% of online adults use mobile banking services while 12% engage in m-commerce.
The number of online adults using their mobile devices to check their bank account information, transfer funds, locate ATMs and perform other banking activities has grown four-fold since 2006, going from 4% to 16% at the end of 2010, according to a study by Forrester Research Inc.
Meanwhile, the number of consumers shopping with their mobile devices increased from 10% to 12% in the same four-year period, says Peter Wannemacher, a Forrester analyst.
Consumers who use mobile banking services are not necessarily the same as the group who buy products with their mobile phones, Wannemacher explains.
“Most mobile bankers—that is, people who use mobile banking even if they don’t use it as their primary banking channel—do not use the mobile channel to shop at all,” he says. “But those who use mobile commerce already use mobile banking services.”
Wannemacher says Forrester is not yet sure why that’s the case. But, he says, a preliminary review of the data points to banks’ marketing efforts and the ease of mobile banking.
“Banks have been quick to roll out, and, perhaps more importantly, heavily market their mobile services,” he says. “From the demand side, checking your bank account in mobile is a relatively simple task,” something 71% of U.S. adults who use mobile banking services do.