Do Indian Consumers Feel Empowered With M-Banking?
ING Vysya Bank Survey conducted a survey with an objective to get a better understanding of how retail consumers feel about mobility in banking, general consumer insights about their behavior and how they feel empowered by using this platform.
The survey was conducted just before the bank formally launched its m-banking platform recently. It showed some interesting findings on how the new generation is responding to mobile banking. In the age group 18-34, close to 50% of respondents prefer using mobile banking applications over their desktops or laptops for accessing their bank accounts.
Some of the most active features that customers use their mobile banking application were to check balances, transfer funds and check last few transactions. Almost in sync with their global counterparts, 67% stated that they trust the security of mobile banking platforms.
The bank used online survey tools to conduct a survey in March-April 2014 across their consumers and with the general public. A total of 2,420 respondents participated in the survey. Certain parts of the ING International Survey conducted by Ipsos in Europe have also been considered.
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