There are three major customer groups for banking, mobile-first, online-first and branch-first. The Credit Union Times recently reported that "the number of weekly mobile bankers now equal those who use the branch”. This is a major shifting point for banking that has occurred faster than expected.
Javelin Strategy and Research reports that one in four smart phone users primarily use a mobile device to access their checking account. Mobile-users are using their phones and tablets to access mobile apps and mobile website for banking. This number may soon increase with the introduction of the Apple watch. Currently online-users are the largest group consisting of 39% of customers, followed by mobile-users at 23% and branch-first customers at 17%.
Who exactly are mobile-users? They tend to be younger, female and have children in the household. While branch-first customers are male, older an wealthier who still use paper and pen to keep track on their accounts. However, nearly half of mobile-users have entered a branch in the last 3 months to ask customer service questions.