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While members can accomplish the same things whether they access your virtual CU via computer or a mobile device, usage patterns vary between the delivery channels, according to Malauzai Software, an Austin, Texas, mobile and Internet banking provider. In its December Monkey Insights "little-data" report, the firm shared key trends, based on October 2015 data, for more than 325 banks and credit unions, covering 6.55 million logins from 375,000 active Internet and mobile banking users.
- Login Frequency. Android smartphone users pop in slightly more often (18.3 logins every month) than iPhone users (17 times), while Internet bankers visit 8.9 times per month.
- Moving Money. Internet users in a browser transfer 75 percent more money internally from account to account than their mobile counterparts. For bill-pay, IB-browser users pay bills with average values 65 percent higher than mobile users.
- Person-to-Person Payments. Things reverse for person-to-person payments: Browser users transfer an average 35 percent less dollars via P2P than mobile users. 86 percent of all P2P activity also came from mobile devices. Average value for October was $425, with iPhone users leading at $467. An active end-user made an average of 1.97 payments per month. 55 percent of P2P payments went via SMS messages and 45 percent via email.
- Internet Banking Check Deposit. Yes it’s true, 2.5 percent of check deposits came in via desktop browser. This proves how important it is to have all features available on all platforms. Who would think people would use Internet banking to deposit checks? But the feature is there; it lets you take a picture of the check, transfer it to the desktop and upload it for processing.
- Session Duration. As always, session duration for Internet banking is longer, 70 percent longer, with average session duration 2:34 in October. For mobile banking, it was 1:34 for smartphone users. Mobile users log in more frequently and get off quickly.
