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02/04/2014

Millions of people, billions of transactions: Britain embraces a banking revolution

The BBA have published new industry figures to show that mobile phone banking transactions in the UK have nearly doubled in a year.

mobile phone transactionsThere are now more than 5.7 million transactions made per day via a smartphone and other internet enabled technology.

The findings were published in the BBA’s opening Way We Bank Now study, a series of publications highlighting how Britain is embracing a range of easy-to-use technology that connects banks to their customers more closely than ever before. View here >>

The initial report shows that customers of the five biggest retail banks have:

  • Downloaded more than 12.4million bank apps
  • Used their mobile phones for 18.6million transactions a week in 2013 – up from 9.1million in 2012
  • Made nearly 40million mobile and internet transactions a week in 2013
  • 28.4million debit and credit cards fitted with contactless technology
  • Signed up to receive more than 457.7million SMS balance alerts and other text messages during 2013.

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