Guest post: Demand for mobile banking growing

iphoneResearch by bank account provider thinkbanking suggests that there’s a growing demand for mobile banking services, with visits to its website from mobile devices growing much faster than those from desktops and laptops.

Visits to the www.thinkmoney.co.uk website on mobiles have grown by nearly 500% over the last 12 months, compared with a 137% growth in PC and Mac visitors.

The most popular mobile device for thinkbanking visits was the iPhone, closely followed by Android devices – although numbers of Android and iPad visitors are growing faster than iPhone visitors and could catch up. iPhone visits grew by 266%, whereas Android visits were up by 518% and iPad visits were up by 909% over 12 months.

Interest in mobile banking growing

The rise of the smartphone is difficult to ignore, and it’s hard to imagine life without a mobile. So financial institutions have adapted to keep up with changes in how customers want to access their money.

First there was online banking, widely seen as more convenient than popping to your local branch or picking up the phone – but mobile banking is often regarded as even more convenient, so it’s no surprise that more and more people are accessing their accounts this way.

However, there is the issue of online security. Banks and other financial service providers need to ensure that people are just as safe when they’re banking on their mobile or computer – and consumers need to be aware of how to protect their own security too.

This is something highlighted by Ian Williams, Head of PR and Communications at thinkbanking. He commented: “Some people still have concerns regarding security – but provided banks offer the same safeguards and guarantees as they do on internet banking services, it’s likely that more and more people will start to take advantage of the benefits mobile banking can bring.”

Recent research suggests that a quarter of people who use the internet on their mobile already use mobile banking. It’s difficult to imagine the demand falling, especially when you consider how many people in the UK already own a smartphone or tablet.

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