Millennials are adopting mobile banking at a much higher rate than their parents and grandparents. According to eMarketer’s latest US mobile phone banking usage forecast, nearly 59% of 18-to-34-year-old mobile phone users in the country will access their bank, credit union, credit card or brokerage account via mobile browser, app or SMS on their phones at least monthly this year. In contrast, fewer than 28% of baby boomer mobile phone users will use mobile banking in 2015.
“Having real-time mobile access to personal financial information is a baseline expectation among millennials today, which helps explain why this cohort comprises the largest share of US mobile banking users.
