Mobile Banking “Little Data” Report – Malauzai Software, Inc. Mobile Banking Usage Data
Austin, TX April 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 March 2016 data for 350+ banks & credit unions, covering seven million logins from 400,000+ active Internet and mobile banking users.
This month we will look at adoption and user behavior for iOS and Android:
- Platform Adoption. In the final three months of 2015, it is interesting to view the disparity between market share statistics and mobile banking platform adoption. iOS consumers still make up the vast majority of mobile banking end users with 57.07 percent, but it is the opposite of overall market adoption, where Android maintains the lead. However, it is important to note that banking users’ adoption of the Android platform has grown from 35 percent in 2013 and 40 percent in 2014 to 42.93 percent at the end of 2015, albeit a slow growth. One might conclude that iOS’ dominance is a result of the stability and security inherent in the iOS platform.
|Platform Adoption U.S. vs. Malauzai|
|U.S. Numbers Source: comScore Mobilens|
- Money Movement Comparison. It is not a surprise to see a higher percentage of money movement across various categories given the platform adoption numbers. But it is surprising to see iOS users average 27 percent more in each respective category. iOS users consistently move money at higher values than Android users. The average iOS value is $561 compared to the average Android value of $424, about 31 percent higher. While there isn’t a definitive reason for these variances, one might assume that the iOS users hold higher balances when compared to Android users, which leads to increased money movement both internally and externally.
|Percentage of Money Movement Feature
Usage Per Platform
- Length of Use. Android users are active in a session for an average of one minute one second; iPhone users one minute 21 seconds, and iPad users one minute 49 seconds. This indicates that iOS users, more specifically iPad users, are more active and engaged during their sessions. This can be supported by the increased money movement activity described above.
- Log In Metrics. Android users average 19.3 logins every month; iPhone users average 18.1 logins; and iPad users 6.9 logins. It is clear that Android/iPhone dominate iPad in login frequency. This could be attributed to the always connected mobile phone compared to iPad, where cellular connectivity, while available, is not as common.
While we are not sure why mobile banking usage reflects the opposite of the market adoption, it is interesting to see how the numbers shake out. Loyalty runs deep and wide as seen in the clear differences in behavior and engagement across platforms.
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