Mobile Banking Takes Over Branch Interactions

New research by the British Banking Association shows that we will use mobile devices to check our current accounts 895 million times in 2015, more than the 705 million branch interactions. They say that by 2020 people will use their mobile to manage their current account 2.3 billion times – more than internet, branch and telephone banking put together.

The research also shows that customers had downloaded banking apps 22.9 million times by the end of March this year – a rise of 8.2 million in just one year. People are also moving £2.9 billion a week using banking apps, compared to £2 billion in 2014.

Anthony Browne, chief executive of the BBA, says: “The rapid take-up of apps and mobile banking appears to be a real game changer for the British public. It is vital that the Government invests more in 4G and high-speed broadband to ensure that as many people as possible can be included in the revolution that is sweeping through banking.”

Would you like to get in on the revolution? We’ll be launching our free UK current account to all EU residents this summer. Save your spot on the invite list at www.monese.com and we’ll notify you as soon as your account is ready to be opened – in under 3 minutes!

Source: Finextra

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