Aussies' bank app appetite lags globe

by Adam Smith26 Mar 2012

Australians have been slow to take up mobile banking with concerns over security and a lack of user-friendly software.

A KPMG study has found up-take of mobile banking platforms is happening at a slower pace in Australia than in other parts of the world, the Australian Financial Review has reported. The 31-country survey found just 36% of Australians use mobile banking, compared to 52% globally and 60% in Asia.

"Banks have been talking about mobile banking for years and we really haven’t had the level of adoption that some might have anticipated three or four years ago," KPMG financial services partner Andrew Dickinson told the AFR.

Of Australians who do use mobile banking, only 22% do so more than once a week. Aussies cited security concerns and complaints that mobile platforms are not user-friendly as the reasons behind shunning mobile banking in favour of branch-based or internet banking. Dickinson predicted this could change as banks develop better platforms.

"The reason people prefer using their PCs is the usability of some of the mobile banking apps we have seen so far. As banks develop more user-friendly apps, that will start to change as well," he said.

Despite lagging behind global averages and bank customers in Asia, Aussies still pipped UK and American bank customers, where only about 30% use mobile banking.

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