28 Dec Get the 411 on Mobile Banking
This is the generation of the smartphone and with each passing day, people of all ages are trading in their old flip phones for the latest and greatest in digital technology. With the overwhelming prevalence of smartphones, comes access to a plethora of new applications and programs at your fingertips, including the emergence of online banking apps and services.
According to The Federal Reserve’s Consumer and Mobile Financial Services Report released in March 2014, mobile phone usage rates remain high and consistent across all demographics and socioeconomic groups. The report also states that the use of mobile phones and smartphones is widespread, with 87% of the United States population having a mobile phone and 61% of that population having a smartphones.
As smartphone usage continues to increase, the prevalence of mobile banking will only continue to increase simultaneously. According to the Fed, approximately 51% of smartphone users completed mobile banking transactions leading up to March 2014.
Mobile banking appeals to so many users because you can deposit checks, transfer funds, check your balance, and more, all while on the go. Instead of going out of the way to try and make it to the bank before it closes, in a matter of minutes you can achieve the same result with just a few taps on your smartphone. For those of us who are always busy bustling around, mobile banking makes a lot of sense. After all, who can argue with convenience, efficiency, and instant gratification?
Bank of the Lowcountry has developed an online banking application to make your lives a little easier. Simply search “Bank of the Lowcountry” in the app store and start your mobile banking experience today!