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Mobile Banking “Little Data” Report – Malauzai Software, Inc. Mobile Banking Usage Data

Austin, Texas | April, 2014

Malauzai Software, a leader in mobile banking, today released its monthly Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding mobile banking is broken up into digestible analytics sets that we like to call “little data”. The study highlights key trends in mobile banking usage based on March data for 158+ banks & credit unions, covering 2.6 million logins from 181,000 active mobile users.

This version of Monkey Insights will look at when end-users access mobile banking by delving in to session usage information. Overall, mobile banking usage continues to surge, and an important new characteristic is increasingly showing up—members and customers are switching to the mobile channel as their exclusive choice. At best-in-class credit unions and banks, approximately 15 percent of mobile users are “mobile-only” and have stopped using the Internet banking channel.

Session Duration

The average single-session duration for mobile banking is 1 minute 25 seconds (1:25). For iPhone it is 1:12, for Android it is 1:28 and for iPad it is 2:05. Android is probably a bit longer as in usability tests we see that Android users take slightly more time accessing features because of the menu structure. The longer iPad duration also makes sense as end-users tend to dwell more on features such as transaction history and viewing check images.

Busiest Days

Friday is the busiest day of the week and Sunday is the slowest day of the week for mobile banking. Over a monthly period the Friday before the last day of the month tends to be the busiest day and the first Sunday of the month is the slowest. There does not seem to be any spikes on “paydays” i.e. 1st and 15th. And all platforms, iPhone Android and iPad move in lockstep, so there seems to be no platform differences when tracking busiest days.

Busiest Time of the Day

9 am is the busiest hour for mobile banking usage across all platforms. Although, while Android usage at 9 am is still the highest of the day, it diverges from iOS devices and does not peak as high. The second highest usage hour is 4 pm, just below 9 am. Again, this is consistent for all device types. The slowest hour of the day is 3 am. Interestingly, Android end-users show heavier usage between 1 am-3 am than their iOS counterparts. Also interesting is that on Saturday and Sunday the busiest hour is 12 pm and usage stays very high until around 4 pm; much more consistently high between these hours than on a weekday.

Annual Seasonality

There seems to be very little change in usage patterns when looking month-to-month. There are slight spikes in usage in May, August and December, but just a few percentage points with the December spike being the largest. This is most likely because it is the busiest shopping period of the year so end-users are checking balances more frequently. Overall, usage is very consistent throughout the year.

Feature Usage

The mobile banking features used also does not vary widely from the time of day, from day-to-day or from month-to-month. In fact, the features used stays very consistent as end-users do the same thing at all time. The one exception is check deposit. Depositing checks is performed less frequently during evening hours and most frequently during daylight hours. With that one exception, feature usage is very consistent.

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