People who bank online or on their mobile are more loyal, more valuable and happier with their service according to new research from Inuit.
The data shows that people who bank online and via mobile devices log in about 30 times a month and are more profitable to a financial institution than those who don’t bank digitally.
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The research shows that older generations check their online bank account regularly (as much as 12 times in a month) and remain more loyal to their bank once they are set up with an online account.
Russell Lester, director of analytics at Intuit Financial Services, said: "Consumers and small businesses want helpful insights from their financial institution anytime, anywhere and on any device."
"Extending the branch experience digitally lets consumers and small businesses do their banking easily on any number of devices in ways that they never could in the past. Financial institutions should rethink how they allocate funds and recognise the value these solutions deliver. The data is clear – greater engagement via digital channels leads to better financial outcomes for the user and the financial institution."
According to Inuit, people who bank online – those signing in from a desktop computer – log in roughly 10 times a month. Mobile banking users increase the number to around 19 times a month. This jumps to 31 times per month when logins from tablets are included in the figures.
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