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Monkey Insights | April 2017

Malauzai Software, a leader in mobile and internet banking, today released its monthly Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding Mobile Banking and Internet Banking is broken up into digestible analytic “factoids” that are called little data. The report highlights key trends in Internet and mobile banking usage based on March 2017 data for 435+ banks & credit unions, covering 13.2 million logins from 730,000 active Internet and Mobile Banking users.

This report highlights data related to general mobile banking usage specifically looking at the top tasks performed in Mobile and Internet Banking. The goal is to establish the intent of the digital banking user by reviewing what they do and why they do it.

  • Top Tasks Still Balance, History & Transfers. Everyone checks balances, reviews recent transaction history and makes transfers. Same for mobile and internet banking, exactly the same tasks. Here are the top tasks in digital banking in March 2017:
    1. Account balances (average of 1.8 accounts per end-user)
    2. Recent transaction history (most users display 15 transactions on the summary screen)
    3. Make a transfer (split 50/50 between moving money in and out of primary checking)
    4. See a check or deposit image (mostly viewing checks deposited)
    5. Check debit card status (to eventually decide to turn the card on or off)
    6. Make a deposit
  • Mobile Banking Session Data. Just to review the basics; an average mobile banker logs in 19 times a month, an Internet user logs in 8 times a month. Session duration for mobile devices is 1:15 and for desktop it is 2:25. If an end-user is using quick balance, where they can see balances without performing a traditional login, they are accessing mobile banking 36 times a month.
  • Top Tasks By Percentage Of Sessions. 100% of end-users see their balances and review recent transaction history. That is because balances and recent history show in the landing page for everyone to see. And this is why they come. 77% of the time. 77% of the time all a user does is check balances and history. Only 23% of the overall interactions in digital banking go beyond balances and history to perform some other task. The top tasks by percentage are as follows:
  1. Making a Transfer – 5.82% of total sessions lead to executing a transfer
  2. Access Bill Pay – 3.92% of total sessions lead to accessing Bill Pay
  3. See a deposit or check image – 2.58% of total sessions lead to viewing an image
  4. Check debit card status – 1.65% of total sessions lead to viewing card status
  5. Make a deposit – 1.60% of total sessions lead to making a deposit
  • Next Set Of Tasks. What do people use digital banking for beyond the basics? Here are the next set of features most used in digital banking:
    1. Locations – Contact Us. This combines branch locator and contact us sections
    2. Accessing Help – either a static help system or some banks have a knowledge-based help system
    3. Personalize – turing on quick balance/set up login PIN/nickname/language/hiding acct, acct order
    4. Make A Call – Place a call from within a mobile device to a pre-determined number
    5. About Us – Product/Service Info for the bank or credit union
    6. Check Reorder – various check reorder and order vendors are accessed

Malauzai Software, Inc. – Proprietary and Confidential

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