Business mobile has failed. We can try to sugarcoat the message, but reality is reality: It is less than perfect. To begin with, financial institutions have failed to deliver stand-alone, purpose-built apps for businesses. There are few business mobile stand-alone apps in the App Store and Google Play. Approximately 400 institutions have launched a business-specific mobile app. That compares to more than 6,000 consumer mobile banking apps. When offered the option by a credit union or bank, only 10% of active business end-users are choosing to access their accounts via a mobile device. This again is far short of the consumer numbers, where 40% of usage takes place via mobile devices.

In contrast to the mobile device, when we look at digital banking usage in a more general sense, we know businesses use the digital channel frequently, but the data tells us the business user stays on the desktop. Business users access digital banking four times a week and stay online for almost seven minutes per session, which is 300% longer than the time period consumers stay online. But the business users don’t use their mobile phones – they stay on the desktop. They have access to mobile apps and mobile websites, and they do not use them.

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