M-banking is used by 33% of mobile consumers, up from 24% in 2011. Of the top 25 US financial institutions, about half are now offering mobile person-to-person transfers and remote deposit capabilities, more than double the figure the previous year.

Javelin has awarded its best-in-class to Chase for the second year in a row, citing advanced offerings as P2P transfers, mobile deposit, and near real-time, actionable alerts. Bank of America comes in second place and scored highest for providing the widest mobile accessibility both through device and mode, while USAA is third.

Among the major hurdles to take-up identified by Javelin is how banks provide access to the multiplicity of devices that customers use. The number of consumers reporting problems accessing m-banking services has more than tripled from four per cent in 2009 to over 14% this year.

The research firm says banks need to consider device and mode to optimise mobile banking access for their particular customer base. More than two-thirds of FIs now offer the "triple play" - mobile Web, downloadable app, and SMS text - which can be accessed through smartphones, feature phones, and tablets. Most notably, mobile app banking has steadily risen over each of the past three years, while Web usage has dropped.

Mary Monahan, research director, mobile, Javelin, says: "Mobile access continues to improve, yet year after year more consumers say, 'My bank offers it, but I can't access it.' Considering the multiplicity of devices that consumers use for mobile banking, providing access is a service provider's headache."