Austin, Texas-based Malauzai Software, a provider of mobile andinternet solutions for financial institutions, found tablets used for banking almost nonexistent,but the devices used belongs almost exclusively to Apple iPads.

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The surprising revelation comes from Malauzai's March 2018Monkey Insights. The research highlights key trends in internet andmobile banking usage based on February's data for 400-plus creditunions and banks covering 17.3 million logins from 905,000 activeinternet and mobile banking users.

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The March 2018 report focused on tablet usage, 99.9% iPad.Android tablets, while they undoubtedly exist, are almostnon-existent in terms of actual digital banking usage.

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Robb Gaynor, chief product officer of Malauzai, analyzed thecompany's data to ascertain the trends financial institutions mightfind beneficial and interesting. “I was surprised that tablet usage is really solow; however, this is not a new trend in the digital world. Itis also a relatively small percent of individuals who only use atablet and no other device. This group is exclusive to what werefer to as large format users, and that includes desktop internetbanking. Earlier this week, Apple announced a brand-new iPad at itsChicago event; it will be the new 9.7-inch iPad as Apple found thatwas the most popular size. It will be interesting to see if thisnew iPad bolsters digital activity. I guess only time willtell.”

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The report, which focused on people who have logged in usingtheir iPad at least once a month for the past year, alsorevealed:

  • A small 1.7% of active digital users use a tablet. “Wow, tabletusage is low, and this is not a new trend as this has been thestate of the digital world for some time,” the report stated. Thenumber was higher for banks (2.6%) but inconclusive as to whycredit unions lag in iPad usage (1.2% on average) “Maybe it is thefact that they service accounts with lower balances, but clearlyCUs have less tablet users.”
  • Nineteen percent of iPad users are iPad only. “Yes, 19% oftablets users do not use another device.” These people areexclusive to the large format, and that includes desktop internetbanking. These are avid iPad users. Overall, this represents about0.4% of all active digital users. “Very small. This is possiblebecause of digital feature parity. An iPad user has access to everyfeature they would see on other devices like legacy internet andsmartphones. A financial institution must have functional parity toget these results.”
  • Sixty percent of iPad Users also use iPhones. “Maybe the biggerstory is that 16% of iPad users are also using an AndroidSmartphone. But yes, as you would expect, 60% iPad users are usingiPhones” And 35% also come in via legacy internet banking on thedesktop. “A person's choice of tablet does not necessarily dictatetheir choice of smartphone. Android Smartphone users do NOTautomatically jump to Android tablets, as a high percentage choosean iPad.” Twenty percent 20% of the Android-iPad crossovercommunity also use iOS devices. “So, in other words, they use 3devices. 20% of Android users who choose tablets also use aniPhone, WEIRD!”
  • iPad money movements 250% higher. “As we have discussed before,large format equals higher values when people transfer money, 250%higher in the case of the iPad.” iPad leads mobile check depositaverages of all devices ($950 average deposit) and is second forinternal transfers. When looking at Picture Pay and Billpay,tablets are about the same as other devices, no materialdifference. “But clearly, people like using large format tablets tomove money, they are more comfortable, and transfer substantiallyhigher values of cash.”
  • iPad Usage the same. Tablet users do the same stuff as digitalusers on other devices. The top tasks for iPad users: viewbalances, see transaction history, transfer money, and makedeposits. Those top tasks are the same across other digital accesspoints, mobile and legacy Internet Banking.

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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.).