Mobile banking trends

Google, U.S. October 2012

Google Condential and Proprietary

Getting mobile right is more important than ever

Acquisition Service Retention

40%
of consumers will turn to a competitors site if yours is not mobileoptimized

48%
feel frustrated, annoyed and believe the company doesnt care about my business when a site doesnt work well on a mobile phone

people switching banks say a poor mobile banking experience prompted them to shop for a new bank

1in6

Source: Google Our Mobile Planet Study 2012, J.D. Power Associates Retail Bank New Account Study 2011, Google What Users Want From Mobile Study 2012

Google Condential and Proprietary

Consider how consumers navigate your brand

consumers that start banking activity on one device continue later on another
Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

46%

will move between devices within the same day

98%

Google Condential and Proprietary

Consumers dont live (nor bank) in a vacuum

of consumers have started a banking activity on their desktop and picked it up later on another device.

34%

28% 6%

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

Google Condential and Proprietary

Smartphones are the most common starting point

of consumers have started a banking activity on their phone and picked it up later on another device.

59%

56% 3%

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

Google Condential and Proprietary

Tablet usage mirrors desktop more than mobile

of consumers have started a banking activity on their tablet and picked it up later on another device.

15%

14% 1% 3%

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

Google Condential and Proprietary

Search is the bridge between devices

of users return to search when switching devices.

63%

will navigate directly to the website.

52%

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

Google Condential and Proprietary

First impressions in mobile count

of users nd mobile sites through search

66%

will go to another site if they cant nd what theyre looking for immediately (optimized or not)

61%

of those that try again will return to search, but are 5x more likely to abandon the task

79%

feel like theyve wasted their time if they cant navigate easily around your site

36%

Source: Google & Ipsos Multi-Screen User Behavior Study, 2012

Google Condential and Proprietary

What do mobile users want from their bank?

1 They want to nd you
Query growth
600% 500% 400% 300% 200% 100% 0%

Look up branch locations

76% 65% 61%

Looking up branch hours

Want to call customer service

Jan'11 Apr'11 Jul'11 Oct'11 Jan'12 Apr'12 Jul'12

Source: Google What Users Want From Mobile Study 2012

Google Condential and Proprietary

What do mobile users want from their bank?

2 They want to manage their money

77%
Check account balances

61%
Log into their account

51%
Pay bills

51%
Transfer money

Source: Google What Users Want From Mobile Study 2012

Google Condential and Proprietary

10

What do mobile users want from their bank?

3 They want to learn more about you / interact with you

53%
Download mobile app

48%
looking for social network page(s)

41%
play a video about the company

Source: Google What Users Want From Mobile Study 2012

Google Condential and Proprietary

11

Mobile research is the dierentiator

% of all new deposit accounts opened
40% 35% 30% 25% 20% 15% 10% 5% 0%

that researched on a mobile phone applied in a branch 29% 18% 13% 10% 9%
Bank of America

54% 28%

that researched on a mobile phone applied on a desktop

Used a mobile phone as part of the bank research process Did not use a mobile phone

9%
Chase

9%
Citi

7%
Wells Fargo

Source: Compete Credit Cards Study, 2012

Google Condential and Proprietary

12

What are mobile users looking for when shopping for a bank?

42%
Compare interest rates

39%
Compare account features

35%
Promotions or oers

30%
Contact the bank

29%
Locate a branch

19%
Begin opening an account

Source: Compete Credit Cards Study, 2012

Google Condential and Proprietary

13