2012 Mobile Banking Trends

7/29/2019 2012 Mobile Banking Trends

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Google Confidential and Proprietary 1

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Mobile banking trends

Google, U.S.

October 2012


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Getting mobile right is more importantthan ever

Source: Google Our Mobile Planet Study 2012, J.D. Power Associates Retail Bank New Account Study 2011, GoogleWhat Users Want From Mobile Study 2012

Acquisition Service Retention

40% 48% 1in6of consumers will turn

to a competitors siteif yours is not mobile-optimized

feel frustrated,

annoyed and believethe company doesntcare about my

business when a sitedoesnt work well on a

mobile phone

people switching banks

say a poor mobilebanking experienceprompted them toshop for a new bank


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Consider how consumers navigate your brand

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

46%consumers that start bankingactivity on one device continue

later on another

98%will move between devices

within the same day


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Consumers dont live (nor bank) in a vacuum


34%of consumers have started a bankingactivityon their desktop and picked

it up later on another device.

6%

28%


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Smartphones are the most commonstarting point


3%

56%59%of consumers have started a

banking activityon their phoneand picked it up later on

another device.


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Tablet usage mirrors desktop more than mobile


3%

14%15%of consumers have started a

banking activityon their tabletand picked it up later on

another device.

1%


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Search is the bridge between devices


63%of users return to search when

switching devices.

52%will navigate directly

to the website.


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First impressions in mobile count


66%of usersfind mobile

sites through search

61%will go to another site if

they cantfind what theyrelooking for immediately

(optimized or not)

79%of those that try again will

return to search, but are 5xmore likely to abandon

the task

36%feel like theyve wasted their

time if they cant navigateeasily around your site


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What do mobile users want from their bank?1 They want to find you

Source: Google What Users Want From Mobile Study 2012

76%Look up branch locations

65%Looking up branch hours

61%Want to call

customer service0%

100%

200%

300%

400%

500%

600%

Jan'11 Apr'11 Jul'11 Oct'11 Jan'12 Apr'12 Jul'12

Query growth


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What do mobile users want from their bank?2They want to manage their money


77%

Check accountbalances

61%

Log intotheir account

51%

Pay bills

51%

Transfermoney


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41%53%

Downloadmobile app

48%

looking for socialnetwork page(s)

play a video aboutthe company

What do mobile users want from their bank?3 They want to learn more about you / interact with you



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9% 9% 9% 7%

29%

18%13%

10%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Bank ofAmerica

Chase Citi Wells Fargo

Used a mobile phone as partof the bank research process

Did not use a mobile phone

Mobile research is the differentiator% of all new deposit accounts opened

Source: Compete Credit Cards Study, 2012

54%that researched on amobile phone applied

in a branch

28%that researched on amobile phone applied

on a desktop


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What are mobile users looking for whenshopping for a bank?

42%

Compare interest rates

Source: Compete Credit Cards Study, 2012

39%

Compare account features

35%

Promotions or offers

30%

Contact the bank

29%

Locate a branch

19%

Begin opening an account

2012 Mobile Banking Trends

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