SIOUX FALLS, S.D.—How much do consumers—especially Millennials—use mobile banking?
A new study from Citibank reveals that the average consumer uses mobile banking an average of seven days per month—more than 10 days per month for Millennials, shared Mobile Payments Today in its analysis.
The study shows that 80% of consumers are conducting mobile banking business at home, while 44% are using the tool at work.
“A staggering 31% of Millennials mobile bank when socializing,” Mobile Payments Today noted.
The study revealed that those consumers surveyed believed they were more aware of their finances because of mobile banking.
“Americans who mobile bank once a week or more are more aware of their financial standing (71%) than those who mobile bank less than once a week (49%. Mobile banking users are very confident (65%) they know the exact balance of their bank account, compared to just 53% of non-mobile bank users, Mobile Payments Today added.