According to Pew Research more than 50% of U.S. adults, or 61% of internet users, banked online in 2013. Today, 57% of smartphone users do online banking using their smartphones, up from 18% in 2011. Consumer trust is increasing in the area of online banking despite constant data/security breaches. Also, Pew found that adults already online are doing more using the internet. Two-thirds of American adults now own a smartphone. Additionally, this increase in mobile devices is allowing greater access to people who previously did not have access to the internet. The increase in use of smartphones to access the internet will most likely continue the growth of online banking in the near future.

by Suzanne Burchett