The Facts on How Mobile Banking is Changing the Way Your Customers Do Business

Server traffic to multiple devices diagram

If you’re reading this blog right now, it’s probably not the first time you’ve heard about “digital” banking and creating mobile banking apps for your customers. But, all the buzz isn’t for nothing—the shift toward mobile and Internet banking is here to stay. And it’s not just the millennials who are to blame.

Blame it on the Millennials … Or not?

According to a recent article from International Business Times, more than one-third of the American workforce is made up of 18- to 34-year-olds, 27 percent of whom earn more than $75,000 a year. Not too shabby.

But, the popularity of new technologies like mobile banking apps is on the rise across all demographics. In fact, multi-national banking and financial services giant, Barclays, recently noted that their oldest mobile banking app user is 106 years old—106!

Despite that remarkable number, many banks are changing their focus to the upcoming generation of customers. And they should be.

Branches are Closing, But Apps are Opening

Regardless of demographic, one thing we know is true: smartphones are as integral to our daily existence as a heartbeat. And this recent statistic from the Federal Reserve shows that our phones may be our lifelines to our money as well—“52% of smartphone owners with a bank account have used mobile banking in the last 12 months.”

Plus, according to Javelin Strategy & Research, as reported by Quartz, branches are closing across the country, and U.S. consumers are now using mobile devices more frequently than branches to fulfill their weekly banking needs. This article goes on to explain how Americans aren’t just checking their balances on mobile apps and other Internet banking technologies—they’re applying for credit cards, loans and investment accounts, which are actions traditionally taken within the branch.

Take on a New Breed of Banking

With the number of branches going down, and the use of mobile banking platforms on the rise, mobile banking is becoming the standard that many customers use for everyday transactions. And embracing technologies like mobile banking apps can help banks like yours compete with the big box banks.

Is your financial institution ready to take on the new breed of banking?


As product manager, Ashley Miller is responsible for the overall product direction of the digital channel for CSI, including Mobile and Internet Banking, from the standpoint of the banking consumer. During her more than 10-year tenure with the company, she has managed CSI’s mobile banking solutions and supported CSI’s deposit platform. Ashley holds an MBA from Murray State University and a bachelor’s degree in business administration from the University of Kentucky.