As Mobile Surges, What’s the Role of Web Banking?

Mobile banking has become the primary banking channel for the majority of consumers, with 58% using mobile apps most of the time, and even higher rates among Millennials and Gen Z. Web banking, in contrast, is seeing a decline in usage, with only 18% of consumers accessing it frequently. Ease of use and user experience are crucial, with consumers favoring mobile apps for their convenience and simplicity. Despite this shift, a notable portion of Baby Boomers remains disengaged from digital banking tools. Banks must balance the needs for both digital and in-person services to effectively cater to their diverse customer base.