Banking Leads Mobile Financial Activities

In terms of overall adoption, in Q2 2011 36% of financial service account owners (bank, credit card, brokerage, or auto insurance) were using a mobile device (smartphone or tablet) to manage their accounts or conduct financial transactions, according to Compete data. However, looking at the performance of individual financial service sub-industries Compete data indicates that mobile wallet adoption is most prevalent in banking (checking and/or savings), with 54% of bank account owners using their phone or tablet to manage their checking or savings account and make transactions.
(more…)