Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institutions

by Stephen Greer,  Daniel Latimore,  Bob Meara, December 6, 2016
Operations/ Benchmarking
Global, North America


Celent has released a new report titled Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institution written by Daniel LatimoreBob Meara, and Stephen Greer, analysts with Celent’s Banking practice. 

Key Research Questions




What insights are provided by a comprehensive view of the entire US Mobile Banking market?

Celent and FI Navigator have collaborated to leverage a proprietary data capture methodology that examines the state of US retail mobile banking by cataloguing the offerings of more than 6,000 financial institutions (FIs). The benchmarking provides detailed analyses covering FI adoption of personal mobile banking and related features; customer utilization and satisfaction by FI and vendor; and vendor market share, market share accretion, and churn. The data and analysis are synthesized from publicly available sources as of September 30, 2016, and cover the entire banking industry as well as 48 different retail banking mobile app providers. This analysis is the second in a series; the first examined data from March 31, 2016.


What are the most significant mobile developments for US FIs?


What are the key trends and benchmarks for US mobile vendors?

Financial institution adoption of mobile banking apps increased from 52% to 57% as smaller institutions get on the mobile bandwagon. Overall customer enrollment increased from 25.3% to 27.6% Modest growth in mobile feature adoption, particularly Quick Balance (26.7% vs. 7.5%) and Fingerprint Authentication (13.0% vs. 10.6%)
"US Mobile banking adoption is lower than one might expect based on the headlines: only 57% of all institutions have an app. This is driven primarily by poor adoption among smaller institutions with less than $100 million in assets," commented Dan Latimore, Senior Vice President of Celent’s Banking Practice.

"The vendor market can be divided into two large groups: multi-product solutions providers and pure plays. In either case, the key to mobile success is adoption by end consumers; vendors are typically paid based on some variant of installed users," he added.

Please note: The download link above is a brochure. This is a special report released through a partnership between Celent and FI Navigator, and it will not be released to current subscribers of Celent’s Retail and Business Banking. Instead, it is being sold as a stand-alone report that will be updated every six months. To find out more about how to obtain a copy, as well as access to the complete FI Navigator platform, please contact Ken Kilduff at

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
Tel: +1 212 345 1366

Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary


Key Research Questions


      Report Highlights


Introduction: Financial Institutions Must Get Mobile Right


Institution Analytics 


      FI Mobile Adoption


      Customer Utilization


      Mobile Features


      Feature Lift


      Customer Satisfaction


      Churn Rates


Vendor Analytics


      Market Share


      Market Share Accretion


      Churn Rates


      Customer Utilization


      Customer Satisfaction


      Client (FI) Demographics




Appendix A: Methodology


Appendix B: Legacy Research


Leveraging the Expertise of Celent and FI Navigator


      Additional Products


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