Mobile Banking “Little Data” Report – Malauzai Software, Inc. Mobile Banking Usage Data
Austin, TX March 2016
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 we like to call little data. The report highlights key trends in Internet and mobile banking usage based on February 2016 data for 350+ banks and credit unions, covering 7 million logins from 400,000+ active Internet and mobile banking users.
This month we are looking at login data.
- Login Frequency. For iPhone users, the monthly login frequency has remained consistent from October 2015 through January 2016 at approximately 17.4 times a month. Android users login slightly more often at around 18.65 times per month, a slight increase from October 2015. iPad users average 6.7 logins per month, less than half the amount than their mobile counterparts. Internet banking login frequency in January 2016 was 7.68 times per month, a slight decrease from October. These numbers clearly indicate that mobile is the preferred method over Internet banking.
- Login Methods
|Login Method||Feature Use||Users|
|User ID / Password||5,682,773||432,052|
|Touch ID & SmartText||698,317||25,449|
PIN Login: Users can setup and enter a 4-digit PIN to login to SmartApps
Touch ID: Fingerprint recognition feature available on supported iOS devices
SmartText: Quick access to account balances and transaction history without the need to enter username/password or PIN.
- User ID/Password. It is no surprise that the combination of user ID and password is the overwhelming leader for how users login to banking. This method of login goes beyond banking as the main option for users.
- Alternate Login Types. Alternative forms of login such as PIN based login, Touch ID and SmartText are increasing in usage. PIN login accounts for almost 10.5 percent of the number of logins per month. Touch ID and SmartText are not far behind, accounting for approximately 9.7 percent of all logins.
- iPhone vs. Android. There are 1.5 times more iPhone users that leverage PIN based login than Android users. Additionally, iPhone users utilize Touch ID and SmartText 3.4 times more than Android users. Even though there are more iPhone than Android users employing these methods, iPhone users account for only 2 times the number of logins as Android users.
- Money Movement. For money movement transactions, Touch ID and SmartText users are required to pass stronger step-up authentication, including usernames, passwords or additional information.
- Session Duration. Session duration for Internet banking is more than 2 times longer than mobile sessions. Mobile users login more often for shorter durations.
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