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Millennials Abandoning Mobile Banking, Stating It Takes Too Long

Almost 40% of millennials dump mobile banking activities because they take too long.

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Person annoyed with her mobile banking experience.

Patience may be a virtue but not when it comes to banking. Almost 40% of millennials dumped mobile banking activities because it took too long, according to a new survey.

Millennials may be trailblazers in mobile banking usage, but credit unions and banks must adapt their user experience for onboarding to attract and retain them as customers, according to findings released by Palo Alto, Calif.- based Jumio and Pleasanton, Calif.-based Javelin Strategy & Research, which examined mobile banking adoption across generational divides.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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