As US banking consumers continue to embrace mobile technology, the use of mobile banking services is expected to approach 50 percent by 2016 versus 15 percent today, a recent study has revealed.

According to the study, 39 percent of polled US consumers report having a mobile offering as either extremely important or important in their decision to switch primary banks. Additionally, the number of US bank customers who use mobile banking services rose from 12 percent in the second quarter of 2011 to 12 percent and that number includes nearly 30 percent of consumers between the ages of 18 and 34 and nearly 15 percent of consumers between 35 and 54.

Furthermore, the study has revealed that, when comparing the set of features for choosing a new bank between consumers who currently use mobile banking and those who do not, mobile played a decisive role in mobile banking users' bank selection decision. Consequently, 32 percent of US consumers who switched banks in the past year and who also used mobile banking chose mobile banking as a preferred bank attribute, versus only 6 percent of non-users who also switched banks.

Moreover, the report has found that 55 percent of US mobile banking users are between the ages of 18 and 34 versus 25 percent non-users. While, US mobile banking users hold 3.1products with their bank, non-users hold only 2.8 percent of products.

In addition, the study has shown that, as mobile banking usage continues to expand, there will be more pressure on banks to differentiate themselves by identifying and deploying key mobile apps that will attract and retain customers. Today, the ability to use a mobile remote deposit capture (RDC) feature is the leading mobile driver for bank selection with 65 percent of US consumers reporting that the ability to deposit a cheque with their mobile device was the leading feature that would cause them to switch.

Finally, the report has revealed that, as US consumers continue to migrate their banking behaviours to mobile devices such as depositing a cheque with a mobile RDC feature instead of visiting a branch or ATM, more opportunities will emerge for banks and other financial services providers to differentiate themselves. One such area is bill payment, where today less than 2 percent of US consumers said they use their mobile devices to pay bills. The mobile device holds the potential for a significant role in bill payment as US consumers continue to seek mobile capabilities that allow them to meet their financial needs anytime, anywhere.

The survey titled Mobile Financial Services Tracking was conducted by global business-advisory firm AlixPartners.