|Mobile Customers are Twice as Likely to Switch Banks|
|Written by Andy Rooks|
|Thursday, 07 June 2012 00:00|
The following is a finding drawn from our upcoming Bank Customer Survey Report, set to be released in late June. Firms that engage Corporate Insight for a custom Bank Website Audit will receive the report for free.
Corporate Insight's recent Bank Customer Survey found that mobile banking customers are twice as likely to switch firms as customers that have not logged into their bank account via a mobile device in the past 12 months. The survey asked 1,000 bank customers the likelihood that they would move their primary checking account to a different financial institution. Only 7% of non-mobile using customers said that they would “probably” or “definitely” switch to a new firm in the near future. This compares to 14% of participants that do use mobile banking.
Mobile Banking and Brand Loyalty
Mobile banking is also tied to customer loyalty in a positive way. The vast majority (88%) of participants that rated their mobile experience as a four or five out of five also reported that they are very likely to recommend their bank to a friend or colleague. Whether banks are attempting to engage younger clients or increase positive mentions, they have plenty of reasons to put their best foot forward with regards to their mobile banking platforms.