Study Shows Increase In Mobile for Banking and Credit Card Services

A recent study by comScore reveals a rise in mobile usage for banking, credit card, and auto and property insurance services.

The study shows that 12.7 million mobile users used mobile banking, an increase of 45% from 2010.  For mobile credit card services there was an increase of 23% at 18.4 million mobile users.  Use of mobile for auto and property insurance services saw an increase of 19% with 7.2 million mobile users.

“The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services,” said Sarah Lenart, comScore vice president for Marketing Solutions. “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”

This is an important trend to keep an eye on since mobile will be an expected service in many industries especially for college bound students who as we know use mobile all the time.