Mobile Becomes Key To Consumer Finances

Mobile Software Development Matrix Software

Despite lingering security concerns, consumers are becoming incredibly comfortable with their smartphones — and all manner of mobile transactions.

As new research shows, a full 75% of consumers are just as comfortable accessing financial accounts from their mobile device as they are from their desktop computer.

As a result, 72% of consumers now use banking apps (or access a banking Web site with their mobile gadget) at least once a week, while 56% report using a credit card app (or mobile Web site) every week.

That’s according to new a new survey of 1,000 consumers from mobile ad firm Mojiva.

Retail banking applications are only the tip of the iceberg when it comes to financial services applications,” according to a Mojiva spokesperson. “Financial services apps are also available for credit cards, mobile wallets, bookkeeping, budgeting, tax preparation, asset management, brokerage accounts, financial news, and the list goes on.”

According to Mojiva’s study, 70% of consumers access finance-related mobile apps at least four times a week, while close to one-third report accessing such apps seven or more times a week.

As for mobile advertising, 55% of respondents said they are most likely to respond to a mobile ad for a financial service or product, while 50% said they are most likely to respond to an ad on TV.

A clear majority (63%) of respondents said they are more likely to respond to a mobile ad for a financial product or service on a financial publisher’s app or mobile Web site

In addition, 71% of consumers agreed with the notion that mobile ads are an effective way to discover information about new financial products and services.