Mobile Banking Statistics

The Kids Are Alright
Gen Y has taken mobile banking by storm

Mobile Banking on the Rise
Sep ‘10
Jun ‘11
In 9 months, there was a 9% increase in mobile bankers
39.1% of mobile bankers own a smartphone
20% increase of mobile bankers using apps from Sept ’10 to Jun ‘11

Generation Y Taking Over
59% of mobile bankers are 18-34
Members of Gen Y are twice as likely to be a mobile banker
4 out of 5 members of Gen Y have a checking account
The aggregate personal income of members of Gen Y was $2.4 trillion in 2010 and is projected to be $8.3 trillion in 2025
Nearly 1 in 3 members of Gen Y review account balances more than 8 times a month

Personal Finance Managers
How Gen Y uses their PFMS
Compare items while shopping
Track loyalty and gift cards
Purchase tickets

What Gen Y Expects From Their PFMS
Categorize spending
Create budgets
Send alerts
ID ways to save THE KIDS ARE ALRIGHT GEN Y HAS TAKEN MOBILE BANKING BY STORM MOBILE BANKING ON THE RISE SEP 10 JUN '11 IN 9 MONTHS, THERE WAS A 9% INCREASE IN MOBILE BANKERS pp APP 20% INCREASE 39.1% OF MOBILE BANKERS OF MOBILE BANKERS USING APPS OWN A SMARTPHONE FROM SEPT 10 TO JUN 11 GENERATION Y TAKING OVER 59% OF MOBILE BANKERS ARE 18-34 MEMBERS OF GEN Y ARE TWICE AS LIKELY TO BE A MOBILE BANKER 4 OUT OF 5 MEMBERS OF GEN Y HAVE A CHECKING ACCOUNT $8.3 TRILLION THE AGGREGATE PERSONAL INCOME OF MEMBERS OF GEN Y WAS $2.4 TRILLION IN 2010 $2.4 TRILLION AND IS PROJECTED TO BE $8.3 TRILLION IN 2025 NEARLY 1 IN 3 MEMBERS OF GEN Y REVIEW ACCOUNT BALANCES MORE THAN 8 TIMES A MONTH PERSONAL FINANCE MANAGERS HOW GEN Y USES THEIR PFMS ADMIT ONE LOYALTY CARD COMPARE ITEMS TRACK LOYALTY PURCHASE WHILE SHOPPING AND GIFT CARDS TICKETS WHAT GEN Y EXPECTS FROM THEIR PFMS CATEGORIZE CREATE SEND ID WAYS SPENDING BUDGETS ALERTS TO SAVE MOUNTAIN AMERICA CREDIT UNION SOURCES cutimes.com/2011/08/03/reaching-moble-gen-y-slide-show comscore.com/Press_Events/Presentatlons_Whitepapers/2012/2011_State_of_Online_and_Mobile_Banking