New Survey Shows Digital Banking Usage Increasing During the Crisis

According to a new survey by J.D. Power 30 percent of consumers surveyed were using mobile banking more and 35 percent were using online banking more; the four biggest banks in the U.S.  have seen 72 percent of customers use mobile banking so far in 2020, that is up from 63 percent in 2019; the big banks are also gaining customers at a higher rate than small and midsize banks; Bob Neuhaus, VP of Global Financial Services at J.D. Power, tells American Banker, “I liken this to a marathon where they put the fastest runners at the front of the race at the start, so this is where they were positioned going into this marathon, and that enables them to have their customers be more self-service and put less pressure on the contact centers.”; some other interesting data points the surveyed uncovered were that 20 percent of consumers reported longer wait times on the phones, 9 percent said ATMs are running out of money and 15 percent of websites have had some down time. American Banker

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