According to the report, Asia has the highest mobile banking penetration with 47 percent of survey respondents in South Korea saying they had mobile interactions in the previous three months while survey respondents in the US report the highest frequency, averaging 4.9 mobile transactions in the previous three months. Mobile banking is having the biggest impact on routine banking activities: 64 percent of mobile banking users in the US say that the future ability to use their smartphones or tablets to check account balances would be highly valued. 41 percent of mobile banking consumers say that using their smart devices for remote deposit capture would be highly valued and 26 percent say that paying bills through their mobile devices in the future would be highly valued.
Furthermore, the study has found that, across all banking models, US mobile users report greater loyalty. The loyalty shift is most pronounced with larger national banks, where loyalty scores actually move from negative to positive territory. National banks also tend to have developed more advanced mobile functionality than their community bank and credit union counterparts—further underscoring the upside potential presented to national banks by mobile banking technology.
Finally, the report has explained that there is also a clear divide in loyalty among affluent customers by region. Customer loyalty scores are highest in Asia and developing markets. Wealthier customers surveyed in the US and European countries continue to give the lowest loyalty scores. US national banks fare particularly poorly, with solidly negative scores among households with more than USD 1 million in investable assets. The picture is quite different in Asia and other developing markets, where banks have developed differentiated modes of targeting and serving the affluent and have far more extensive wealth management operations than in the US.
The study titled “Customer Loyalty in Retail Banking Report (2012 global edition)” was issued by business consulting firm Bain & Company.
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