Study: Consumers Are Increasingly Managing their Money on Mobile

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ADOTAS — Premium mobile ad network Mojiva has issued a new report on the role that mobile plays in the financial lives of consumers (e.g., payments, budgets, POS purchases). This snapshot report also examines how financial brand advertisers and agencies can leverage mobile to reach these tech savvy consumers.

Among the major findings:

  • Consumer confidence in the security of sharing highly sensitive financial information via mobile devices is growing rapidly. Mojiva’s study found that 75 percent of all respondents are just as comfortable accessing their financial accounts from their mobile devices as they are accessing them from a laptop/desktop.
  • Staying “in the know” about financial news as it happens matters to consumers. 79 percent of all respondents indicated they read financial news on their smartphone or tablet.
  • In a challenged economy, consumers are increasingly turning to their mobile devices to manage their personal finances. 72 percent of all respondents use a banking app/site weekly, 56 percent use a credit card app/site weekly, and 35 percent use a budgeting app/site weekly.
  • Consumers are turning to mobile devices to pay bills on the go. When it comes to paying bills and invoices, the majority of all respondents, 58 percent use their smartphone or tablet 25 percent or more of the time. Of that same group, close to half (28 percent) use their smartphone or tablet to pay bills or invoices 50 percent or more of the time.
  • Consumers are more receptive to finance-related ads on smartphones, as opposed to tablets. 55 percent of all respondents indicated they are more likely to respond to finance-related ads on their smartphone, as opposed to their tablet.

To download the full report, click here.

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