Report says mobile banking well established but can frustrate customers

M-banking USA

A report by First Annapolis Consulting, has revealed that 81% of American financial institutions offer consumers mobile banking in some form or another. However, it pointed out that mobile banking users feel frustrated due to problems with achieving real-time goals, as well as set-up issues and dropped connections.

The report also found that 60 banks offer some form of alerts or account management functionality via SMS, and 26 have launched tablet-optimised apps. 

Paul Grill, partner, First Annapolis Consulting said: “The findings from the study indicate that banks are beginning to leverage their mobile applications to build a ‘pathway to payments’ by enabling features like bill payment and P2P.

A separate survey carried out by the Adcom Group for Virtual Hold Technology, revealed that entertainment, games and social media and news apps are just ahead of finance apps in terms of popularity.  

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