Banking in the bedroom and bathroom

by Mark Arnold

You’ve probably heard it said that mobile banking means consumers can interact with your financial institution far and wide. Banking anywhere. Banking everywhere. Banking on the go.

How about banking “while you go?”

According to a recent survey conducted by Feedzai:

  • 46% of all mobile banking users have made transactions in the bedroom
  • 30% of mobile all banking users have made transactions from the bathroom
  • 13% of mobile baking users have made transactions while driving

These transaction types include withdrawals, deposits and checking balances (insert your own bathroom humor joke here).

For the Millennial Generation, the numbers are even higher:

  • 60% of Millennial mobile bankers have conducted a mobile banking transaction in the bedroom
  • 20% of Millennials have made a mobile banking transaction from a bar

As Feedzai CEO Nuno Sebastio said in BizReport, “People use their smartphones as a tool to shop and bank, even in the most liberal places.”

This recent data means consumers are conducting their banking just about anywhere—except the branch. If you are relying on your branches to market, then you are watching your bank or credit union become older and older.

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