App-etite for mobile banking grows as people log in 275 times a year typically
Major banks had over 5.5 million webchats with customers in 2017, the equivalent of 622 per hour, UK Finance has said.
Mobile banking customers logged into their accounts 275 times on average last year, according to a trade association.
In total, customers logged into banking mobile apps 5.5 billion times in 2017 – a 13% increase compared with 2016, UK Finance said.
Customers also received 512 million text alerts.
Over 5.5 million webchats took place with major banks’ customers in 2017, UK Finance’s The Way We Bank Now report said.
This was a 24% increase on the previous year and the equivalent of 622 webchats taking place per hour.
UK Finance said banking customers are taking advantage of more banking webchat services than ever before.
It said the popularity of services such as Twitter, Facebook messenger and WhatsApp is encouraging banks to invest in similarly fast and convenient webchat services.
Increasingly, customers are using new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day, the association said.
Stephen Jones, chief executive of UK Finance said: “Technology is changing the way we communicate, work and shop and, as a result, the way we choose to manage our money.
“The industry has responded to this seismic social change, which is very much led by customers looking to make the most of digital innovation for convenience.
“The assumption that British consumers shy away from talking about money looks to be consigned to the last century, as webchats and video banking prove increasingly popular.
“And with over 22 million British customers having downloaded banking apps, this trend is not going away.”
Dan Cooper, UK banking and capital markets leader, at EY, which sponsors the report, said: “We’re now able to make payments and communicate with our bank at times which suit us through increasingly sophisticated apps and webchat services.
“Given how busy people’s lives are nowadays, this is proving to be a real game changer.”
A separate report from industry data specialists CACI predicted this week that mobile banking on phones and tablets will become more popular than internet banking on computers in 2019.
The findings come as bank branch numbers dwindle.
Earlier this month, Royal Bank of Scotland said it is to close 162 branches in England and Wales.
In April, Lloyds Banking Group outlined plans to shut 49 branches.
