Mobile, tablet banking on the rise

Consumers are moving steadily into online, tablet and mobile banking and bill pay, according to this year’s Fiserv Consumer Trends Survey.
The number of online deposit, savings and credit accounts opened in 2011 increased significantly. Money market accounts opened solely or partially online rose from 16 percent to 50 percent year over year and 42 percent of credit card applications were completed online.
The number of U.S. households using online banking, of the 3,000 surveyed in August, increased 9 percent and those paying bills online increased 11 percent in 2011.
About 25 percent of households had used mobile banking within the last month. Among those who accessed mobile banking, 60 percent used a mobile browser, 41 percent used an app and 32 percent used text messaging.
According to the survey, the consumer mobile trend has moved from checking balances and locating ATMs to more in-depth usage for paying bills and transferring money. About 40 percent of respondents had paid a bill using a mobile phone—up from 28 percent in 2010.
Tablet banking is also increasing, with 40 percent of respondent households expecting to own a tablet by mid-2012. Of those, 45 percent planned to use the tablet for banking. Also, 37 percent of households with one tablet planned to buy another tablet.
Brookfield-based Fiserv Inc. offers financial services technology solutions.