JAVELIN Finds Tablet Banking Apps Still Lack Killer Feature; Half of Tablet Users Pushed to Online Banking

San Francisco, CA, July 27, 2016:  Since the iPad’s introduction in 2010, tablet adoption has enjoyed meteoric growth and appears to have every reason to succeed as a banking platform. So why has innovation and development slowed to a crawl for tablet-specific functionality, leaving the devices at the bottom of consumers’ lists when accessing their accounts? Today, JAVELIN released Tablet's Shifting Role in Mobile Banking, which takes a close look at how consumers use tablets in managing their financial accounts, and why many institutions have responded by delivering identical—not differentiated—experiences for both tablets and smartphones. 

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More than 60% of U.S. consumers own a tablet, nearly the same percentage as those who own a desktop computer. Despite this strong hardware adoption, early financial institution support, and broad use of mobile banking among tablet owners, the tablet as a banking channel tool has failed to live up to its early promise. Compared with other popular digital banking devices (smartphone, laptop, and desktop), the tablet is used least by mobile bankers on a weekly basis. The percentage of consumers who access mobile banking weekly on their smartphone is more than twice as high as those who turn to their tablets each week (31% vs. 15%). 

“Tablet banking usage has stagnated in the absence of any must-have features, while smartphone banking innovations such as remote deposit capture and biometric logins have made the smartphone consumers’ go-to device for mobile account access," said Emmett Higdon, Director of Mobile, JAVELIN. “Tablets, however, provide a perfect platform for product marketing and new account opening. Institutions must turn to these forgotten devices to better meet the needs of new-to-bank mobile-first customers.”

The report that JAVELIN released, Tablet's Shifting Role in Mobile Banking, also highlights the high percentage of tablet bankers who access their accounts through a browser, and explores how institutions can drive deeper customer engagement by building better bridges between online and mobile banking, and between the bank’s public and secure sites.


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About JAVELIN 
JAVELIN, a Greenwich Associates LLC company, provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies, merchants and other technology providers. Javelin’s independent insights result from a uniquely rigorous three-dimensional research process that assesses customers, providers, and the transactions ecosystem.

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