During the pandemic, preferences shifted markedly to mobile banking rather than online banking, accelerating the need for banks and credit unions to provide more engaging mobile capabilities as apps increasingly take over the role of the day-to-day workhorse channel for financial matters. It also will mean fewer online banking logins, which will increase the relationship value of each login and require financial institutions to rethink the role and design of online banking, as they have done with branches. Javelin’s 2025 channel forecasts send a clear message: Although consumers increasingly prefer mobile banking, they still want all-channel options. Drawing on 42 consumer surveys dating to 2004, Javelin forecasts that adoption rates are either declining or plateauing for mobile and online banking, branches, ATMs, and call centers. Nonetheless, the important takeaway is that U.S. banking customers typically want it all—24/7/365 digital access, plus the reassurance that branches, ATMs, and call centers are readily available when digital banking falls short.

Companies Mentioned:

U.S. Bank, Zelle