More than two-fifths (42 per cent) of British bank customers take advantage of new financial technology to manage their accounts via their smartphones and banking applications.
The online study conducted by Consumer Intelligence, which questioned 2,002 UK adults, found mobile banking is the joint third most popular use for smartphones, behind social networking and listening to music, once basic uses such as making calls, texting and emailing were ignored.
David Black of Consumer Intelligence said: “The popularity of banking apps highlights how a growing number of people are able to handle their financial dealings wherever they are.
“Banks and building societies are embracing the technological change with Barclays reporting the first house purchase on a mobile while smaller institutions such as Cumberland Building Society have launched their own versions."
The research also underlined the growth in mobile banking which is set to expand rapidly with the launch of The Payment Council’s mobile payments scheme in the spring, which will allow customers to make payments direct to or from an account from their phone.
By Tony Aynsley