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Metrics: Mobile Traffic at the 10 Largest U.S. Banks

By Jim Bruene on March 27, 2013 10:13 AM | Comments

imagecomScore just enhanced its website traffic reporting by showing both the mobile and desktop  audience at major websites. They call it Media Metrix Multi-Platform. The top-50 U.S. sites are available here.

Unfortunately, there are no banks in the top-50 and just one fintech company (Intuit, note 1). But comScore forwarded us a list of the top-10 banks to share with readers (thanks, see table below).

Highlights:

  • The mobile-only group is becoming a significant segment, amounting to about 20% of the desktop banking group (across all banks)
  • However, BofA and Chase have much higher mobile-only groups, 50% higher than any other top-10 bank
  • Across all banks, 40% of mobile users are "mobile-only" while 60% also use desktop online banking
  • But at BofA and Chase, about 2/3 of their mobile base is "mobile-only"

Bottom line: It is no surprise that mobile usage is significant. But what I didn't realize is how quickly mobile users are giving up desktop online banking. Look at Chase and BofA, which have had mobile the longest. Only 1/3 of their mobile users went to the desktop during February. Partly, that's because many are single-service credit card customers. But it's strong evidence for what many have hypothesized: once users become accustomed to mobile convenience, they have much less need for desktop access.

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Table: U.S. desktop and mobile traffic at the top-10 busiest U.S. banks
millions of unique visitors, age 18+ (Feb 2013)

Feb 2013 (USA) Total Desktop Mobile* Mobile Only Mobile Incremental**
Total U.S. Internet 236 221 127 14.5 7%
Banking total 102 85.1 39.1 16.4 19%
1. Bank of America 31.5 24.1 11.7 7.4 31%
2. JPMorgan Chase 28.3 21.9 9.9 6.3 29%
3. Wells Fargo 22.2 20.0 3.5 2.2 11%
4. Capital One 15.4 12.7 3.8 2.8 22%
5. Amex 15.3 12.6 3.8 2.7 21%
6. Citi 11.8 10.4 2.0 1.4 13%
7. Discover 7.8 6.5 1.7 1.3 20%
8. HSBC 6.5 5.5 1.3 1.0 19%
9. US Bank 5.5 4.8 0.9 0.7 14%
10. PNC 4.8 3.9 1.1 0.8 21%

Source: comScore, March 2013 (methodology)
*Includes smartphone and tablets, native apps and mobile Internet
**Mobile-only divided by desktop base

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Notes:
1. Intuit placed #42 of all U.S. digital properties with mobile audience of 15 mil, desktop of 29 mil, and total 38 million. It had 8.9 million mobile-only users, 31% of its desktop base.

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