Adobe Digital Index’s (ADI) “State Of Banking” report finds that banks in the United States are behind other countries when it comes to the adoption of mobile technology to enhance the customer experience.

1. STATE OF BANKING
ADOBE DIGITAL INDEX

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Table of Contents
03 U.S. lags other countries in mobile banking
04 Over half of Millennials and Gen Xers do majority of
banking transactions online
05 U.S. banking landscape is more fragmented
06 Digital divide in retail banking
07 Mobile apps are a compelling reason to switch
financial institutions for Millennials and Gen Xers
08 Online banking is a weekday activity
09 Credit appetite in the U.S. is seasonal and not
primarily driven by interest rates
10 As applications increase, approval rates decrease
11 Desktop credit applications 77% more likely to be
approved than smartphone applications
12 iOS credit approvals lag those of Android users
13 Data citation
14 Methodology

3. ADOBE DIGITAL INDEX | State of Banking 3
U.S. lags other countries in mobile banking
United States is lagging in
smartphone access.

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Over half of Millennials and Gen Xers do majority of
banking transactions online
53% of Millennials do more than half of
their banking online; 62% of Gen X.

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U.S. banking is more fragmented among smaller regional
banks and credit unions
*Source in appendix

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Digital divide is occurring within retail banking
Smaller banks failing to take
advantage of the shift to mobile.

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Mobile apps are a compelling reason to switch financial
institutions for Millennials and Gen Xers
39% of Millennials are
concerned about the quality
of mobile apps provided.

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Online banking is a weekday activity
Engaging consumers during peak traffic times
can increase brand loyalty.

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Credit appetite in the U.S. is seasonal and not primarily
driven by interest rates
Interest rates are not key factors in credit demand;
seasonal events are.

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As applications increase, approval rates decrease
With lower credit approval rates during the holidays,
banks can market credit repair products.
Spread widens as
applications pick up.

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Desktop credit applications 77% more likely to be approved
than smartphone applications

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iOS credit approvals lag those of Android users

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Data citation
Country Share Source
AUS 80% http://www.businessinsider.com.au/apra-chief-warns-we-dont-want-the-stability-of-a-graveyard-for-australian-banking-2015-4
CAN 90% http://business.financialpost.com/news/fp-street/how-canadas-big-five-banks-have-become-the-big-three
UK 81% http://www.statista.com/statistics/387098/uk-banks-current-account-market-share/
US 59% https://ilsr.org/vanishing-community-banks-national-crisis/

14. Based on consumer data comprised 86 billion visits to banking sites between Jan 2015 and March 2016.
Composed of aggregated and anonymous data from visits to financial services websites.
• Survey: We talked to 1,000 US consumers about their online financial planning, as well as plans around tax filing.
The survey was conducted March 17-20th.
• Report based on 600+ million social impressions scraped from Blogs, Facebook, G+, Reddit, Twitter, Dailymotion, Flickr, Instagram,
Tumblr, VK, Disqus, Foursquare, Metacafe, Wordpress, and YouTube. Social engagements is publically available based on an aggregate total.
• Data from Adobe Marketing Cloud Solutions leveraged: Adobe Analytics and Adobe Social.
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ADOBE DIGITAL INDEX | State of Banking 14
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Methodology