Smartphones have become the most popular way to bank

bankingYour phone has probably been the bank teller you interacted with most this year, but banking analytics firm RateWatch’s 4th Annual Mobile Banking Survey reveals that only 2 percent of the bank customers/members surveyed considered mobile banking their primary banking option. An overwhelming 62 percent considered the old-fashioned banking at the branch as their primary banking option.

Mobile phones may not be the first place people go to for banking needs, but it has become the most popular. More people perform bank transactions through mobile phones than any other means in 2014, according to a recent survey from global management consultancy firm Bain & Co. The firm surveyed roughly 83,000 bank account owners globally and uncovered 35 percent of all banking interactions occurred on mobile phones.  More