Mobile device for Millenials

Another important point for banks is the role of mobile devices in the lives of millennials –these are digital natives who have grown up in the age of the Internet, smartphones and social networks and are looking for a simple and easy relationship with the bank using these tools.

The study by Gemalto entitled Generation mBanking highlights that 94% of millennials have a cellphone, 42% have a tablet and 38% have both devices. 32% claim never to have stepped inside a bank and 62% say that at least once a month they use an online banking service via their phone or tablet. 27% would prefer not having a bank to not having a cellphone.

PwC’s Global Digital Banking Survey points out that mobile banking users will increase by 64% through to 2016; and those who bank through social networks and online banking will also rise by 56% and 37% respectively. Users of traditional channels such as branch offices or telephone banking will fall by 25% and 13%.

Source :

https://www.bbva.com/wp-content/uploads/en/2017/10/ebook-cibbva-innovation-trends-millennial-generation.pdf