Smartphone users are switching from browsers to apps for their online banking. The proportion of New Zealand’s smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year.
While a majority of Smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year.
The adoption of mobile online banking differs markedly between brands: one in three Apple iPhone users compared to one in ten Samsung users; however this proportion will continue to increase in line with the availability of mobile banking applications on Samsung’s Android operating systems.
Roy Morgan Technology Adoption Segments show that Smartphones are no longer the preserve of ‘early adopters’—they are fast becoming mainstream. Watching the behaviour of smartphone users can therefore provide insight into the future behaviour of New Zealanders as a whole.
Over 20% of Smartphone users In Australia now bank on their phones, while the proportion still using the computer has just fallen below half.
Pip Elliott, General Manager, Roy Morgan New Zealand, says:
“Where internet banking gave people the convenience of banking at home, Smartphones now give them the convenience of banking anywhere.
“Banks are rightly investing in mobile technologies to give their customers increased flexibility and security. The introduction of Near Field Communications (NFC) technology – which allows Smartphones to be used as a credit or debit card – will no doubt impact further on the trend.
“To understand the shift to mobile, businesses need to be aware of the capabilities and rates of consumer uptake of different devices and the levels of demand for mobile applications across target markets and industries.
“Comprehensive research into these factors is available in the range of Roy Morgan Telecommunications & Technology Profiles.”
Source: Roy Morgan Single Source (New Zealand), August 2011 to December 2012; 6 monthly moving average. Average Sample n = 1,450. Banking activity conducted in last 4 weeks.
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Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
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