- More mobility, more logins: People who banked online – those signing in from a desktop computer – logged in roughly 10 times a month. Mobile banking users increased the number to approximately 19 times a month. That jumps to 31 times per month, when logins from tablets are added to the mix.
- When looking at Boomers and Seniors in a supplemental study, Intuit found they login 11 and 12 times a month respectively. And, these consumers access their financial information every third day.
- Higher engagement, better financial outcomes: Highly engaged consumers of Intuit clients that used multiple digital banking devices to access their services were 61 percent more profitable than offline customers.
- Better retention: Financial institutions were 2 percent more likely to retain Intuit online bill pay customers over the course of a year, resulting in up to $150,000 plus in cost savings to a mid-sized financial institution annually. Research reports indicate firms spend $150-$200 to acquire a new checking customer.
- Plastic pays: The average Intuit Purchase Rewards consumer generated 47 percent more monthly debit card purchases than those online customers who didn’t use Purchase Rewards. This produced an estimated additional $50 of interchange fee income each year per consumer for financial institutions.
Digital Banking Is A Win-Win
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