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  5. Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institution

Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institution

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6 December 2016
Dan Latimore Stephen Greer
Bob Meara

Abstract

Celent has released a new report titled Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institution written by Daniel Latimore, Bob Meara &Stephen Greer, analysts with Celent’s Banking practice.

Key Research Questions

1

What insights are provided by a comprehensive view of the entire US Mobile Banking market?

2

What are the most significant mobile developments for US FIs?

3

What are the key trends and benchmarks for US mobile vendors?

Summary

Celent and FI Navigator have collaborated to leverage a proprietary data capture methodology that examines the state of US retail mobile banking by cataloguing the offerings of more than 6,000 financial institutions (FIs). The benchmarking provides detailed analyses covering FI adoption of personal mobile banking and related features; customer utilization and satisfaction by FI and vendor; and vendor market share, market share accretion, and churn. The data and analysis are synthesized from publicly available sources as of September 30, 2016, and cover the entire banking industry as well as 48 different retail banking mobile app providers. This analysis is the second in a series; the first examined data from March 31, 2016.

Analyst Quotes

"US Mobile banking adoption is lower than one might expect based on the headlines: only 57% of all institutions have an app. This is driven primarily by poor adoption among smaller institutions with less than $100 million in assets."

"The vendor market can be divided into two large groups: multi-product solutions providers and pure plays. In either case, the key to mobile success is adoption by end consumers; vendors are typically paid based on some variant of installed users."
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