Saturday, May 25, 2024

ABA survey: Nearly all Americans enjoy digital banking experience

Ninety-three percent of Americans rated their bank’s online and mobile app experience as

“excellent,” “very good,” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey also found that seven in 10 Americans (70 percent) use a mobile device to manage their bank account at least once per month, and 46 percent do so more than three times per month.

In addition, the survey found that 29 percent of U.S. adults used a mobile app to make a payment or transfer money within the past year, with 44 percent of younger adults (18-34 year olds) reporting that they had done so. The most-used mobile payment apps included Paypal (67 percent), their bank’s app (33 percent), Venmo (29 percent), Zelle (23 percent), Apple Pay (20 percent) and Starbucks (12 percent). One in 6 consumers (16 percent) said they would be willing to switch banks for a better digital experience.
The infographic to the right highlights these survey results. The survey data released today are the latest in a series of results gauging consumers’ preferences and opinions regarding banks and their services. The prior survey results highlight consumers’ preferred banking methods and reveal that Americans are highly satisfied with their bank and trust banks more than any other entity to keep their personal information safe and secure.
Click here to see all the results from the survey courtesy the ABA.