thinkmoney Online Account Management:


thinkmoney Online Account Management:

News Article

Massive rise in mobile account management at thinkmoney

Published 5 July 2012 by

What do you use your mobile phone for? Playing games? Making videos? Phoning your mum?

What about managing your account?

We were curious to find out how many people accessed thinkmoney on their mobile, so we checked. We found that over the last year, five times more people visited on their mobile or tablet than the year before - a 497% increase in mobile visitors over just 12 months.

More people are visiting us on their laptops, PCs and Macs too, but these numbers are growing more slowly. Visits from PCs/Macs, including laptops, are up 137% - and visits to the site are up by 161% overall.

iPhone leads the way with Android close behind

Business Insider recently reported that Apple's iPhone is now the most profitable business in the world. If you don't own one, you probably know someone who does. Well then, it may not surprise you to learn that the iPhone is far and away the most popular mobile device used by visitors.

However, other devices may be catching up; the number of iPhone visitors only grew by 266% but visits on Android phones / tablets increased by 518%, and visits on iPads by 909%.

Compare that with visits from Macs and PCs, including laptops. There were only 137% more visitors over the year. Rather than suggesting that mobile phones will eventually replace computers, it could indicate that they're seen as a convenient complement - something more and more people are using as well as their home computer.

Why is mobile banking so popular?

As technology evolves, habits change too. The invention of the ATM, for example, made it possible to access your cash in all kinds of locations, any time of day or night.

So, as more people own smartphones and tablets, it stands to reason that more people will take advantage of mobile banking. People can do things they couldn't do before without access to a computer - and WiFi hotspots and sizeable mobile data packages have made this much easier.

Bank account providers have responded to the demand with 'apps' that let people send money to each other with their phone and have optimised websites for mobile phone displays too.

Mobile banking isn't a 'flash in the pan'. Ian Williams, head of PR and communications at thinkmoney, commented:

"The fact that visits from mobile and tablet devices have increased three times faster than desktop computers shows just how big mobile banking could be in the next few years. Recent research indicates that a quarter of mobile internet users already manage their bank account this way, and we'd expect the numbers to rise before too long.

"Some people still have concerns regarding security - but provided banks offer the same safeguards and guarantees as they do on internet banking services, it's likely that more and more people will start to take advantage of the benefits mobile banking can bring."