WASHINGTON — For the fourth year in a row, U.S. consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association.
The national survey found consumers continue to “embrace digital banking channels,” with 48% of bank customers using apps on phones or other mobile devices as their top option for managing their bank account and 23% using online banking via laptop or PC the most in the past 12 months.
The next most popular banking methods include visiting a branch (9%), ATMs (8%) and telephone calls (5%), the ABA reported.
Demographic Breakdown
A breakdown of age demographic in the ABA’s study shows preferences vary among different generations. More than half of Generation Z (57%), Millennials (60%) and Generation X (52%) use mobile banking apps most often, while a plurality of Baby Boomers most often utilize online banking (39%).
One in six Baby Boomers (16%) visit bank branches the most often, while only 4% of Gen Z and Millennials prefer to visit a branch.
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