According to a research conducted by BioCatch, the most popular banking channels in both the US and the UK are web and mobile, overtaking telephone and branch banking. 36% of banking is performed online (web, while 29% of banking is performed on a mobile device.
Over 70% of women and over 60% of men primarily check balance, charges and transfers. In distant second place come transactions such as paying a bill or making a transfer. 37% of women in the US log-in to their online baking on a daily basis compared to 30% of men. In the UK, approximately 30% of both men and women log on daily.
Findings indicate that lack of security is the greatest obstacle to adoption for those who still do not bank online. 61% indicated that fear of hacking was their main reason for avoiding online banking. Another 26% said that it was too much of a hassle to log in.
BioCatch surveyed 600 customers from top banks in both the US and UK.
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