Tablet banking taking off

You see them everywhere these days – iPads, electronic tablets, and e-readers – and now they are making headway as online banking tools.

According to a recent survey by SYNERGISTICS Research entitled, Optimizing Mobile Banking and Payment Strategies, more than four in ten Internet households have some form of tablet or e-reader with online capabilities.

One-third (Exhibit 1) report they do some type of financial activity such as balance inquiries, transfers or loan payments on these devices. This activity tends to be most widespread among those ages 18 to 34.Optimizing Mobile Banking and Payment Strategies

William H. McCracken, CEO of SYNERGISTICS, states, “Tablets and e-readers are already entering their next level of usage beyond web-browsing and reading.  Financial institutions that think of tablets or e-readers as a ‘trendy’ development they may at some point need to address in their channel strategies are already ’behind the curve.’”

“A significant proportion of consumers now own tablets and e-readers, and it is clear that users of these devices are widely embracing them for performing online financial activities. Although not displacing computer-based online activities as a primary method just yet, the portability of these devices combined with their computer-like functionality – larger virtual keyboards and Web browsing – suggests there will be continued wide scale adoption by consumers.”

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