Mobile becoming consumer's 'channel of convenience' - Halifax

Mobile becoming consumer's 'channel of convenience' - Halifax

The UK's Halifax Bank is reporting "monumental growth" in mobile banking, registering a 100% increase in the number of logins via mobile in March 2015, as handheld devices far outstrip the desktop as the online channel of choice and convenience for consumers.

In March 2015, Halifax customers logged on to their bank account almost 40 million times using their mobile phone, compared to around 20 million in the same month in 2014.

The bank says that almost two thirds (64.6%) of all online banking logons are now being carried out via a mobile phone, compared to 26.4% for a desktop and nine percent for a tablet. Additionally, a fifth (21%) of active online banking customers have solely used their mobile for all their banking needs in the past three months.

Halifax says that the impact of mobile banking can most acutely be seen in the change in behaviour of when people access their accounts. Not only are customers accessing their accounts more frequently, but there has also been a shift in digital banking habits as people log in earlier in the morning on their daily commute.

Anita Hockin, head of digital for Halifax, says: “Since launching our new mobile app last summer we have seen huge growth in the number of customers logging on via a mobile, so much so it is now clearly the most popular choice for active digital users, and shows a shift in the way people are choosing to do their banking."

She cautions however that customers still remain wedded to a bricks and mortar presence on the high street: “Whilst digital is becoming ever more popular, we have found that most of our customers use all of our channels, be it in branch, over the phone or as this latest data demonstrates on their mobile. It is therefore important that we continue to listen to our customers and innovate, to ensure they are able to access their bank in the way that suits them best.”

Comments: (2)

A Finextra member
A Finextra member 08 May, 2015, 12:32Be the first to give this comment the thumbs up 0 likes

This feels quite revolutionary doesn't it? I wonder how this compares to the mobile banking stats for other providers? Plus how does it impact on brand warmth towards Halifax?

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 12 May, 2015, 12:21Be the first to give this comment the thumbs up 0 likes

If only my banks didn't insist on a cumbersome login procedure for balance, last 5 transactions and other pure-inquiry related functionality, I'd be one more customer that prefers mobile banking to online or branch banking. Unfortunately, they do, and I don't.