Mobile Banking App Usage in the U.S. Increases 45 Percent from Q4 2010

Nearly 14 Percent of U.S. Mobile Subscribers Accessed Banking Services on Their Devices

RESTON, VA, October 26, 2011 - Comscore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released an analysis of mobile financial services usage in the U.S. showing that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011 in June, representing 13.9 percent of all mobile users. The study also revealed that 12.7 million mobile users reported using banking apps, showing a notable increase of 45 percent from Q4 2010. These findings and others will be presented via a complimentary live webinar, The State of the U.S. Mobile Financial Services Industry, on October 27. For more information and to register, please visit: https://www1.gotomeeting.com/register/220422985.

“The investments in mobile made by financial services institutions, along with the continued growth in smartphone adoption, have had a truly positive effect on the use of mobile financial services,” said Sarah Lenart, Comscore vice president for Marketing Solutions. “New apps and mobile-enhanced sites have made it easier for customers to seek out financial information using mobile devices. With tablets and other web-enabled connected devices gaining popularity in addition to smartphones, financial service institutions are poised for additional growth in mobile access.”

Mobile Banking and Credit Card Usage See Highest Increases in Visitation

Nearly 14 percent of the total U.S. mobile audience (32.5 million users) accessed mobile banking services in June 2011, up 21 percent from Q4 2010. Mobile credit card services saw an even greater increase, with 18.4 million mobile users accessing credit card information, up 23 percent from December 2010. Mobile auto and property insurance services also exhibited strong gains as 7.2 million mobile users accessed insurance information on their devices – a 19-percent increase.

App Usage Increased Significantly for Banking and Credit Card Servicing

With the steady growth in smartphone adoption over the past year, the use of apps to access mobile financial information has grown as well. In particular, mobile banking and credit card app usage have seen sizeable increases. 12.7 million mobile users reported having used a banking app in June (up 45 percent from Q4 2010), while 6.0 million users used a credit card app (up 43 percent).

Credit Card Customer Engagement Increases in Frequency through Mobile Channels

An analysis of credit card customers’ engagement with various account channels shows users reporting more frequent access through mobile channels than fixed-line computers in Q2 2011. 62 percent of credit card customers reported using an app to visit a bank’s web site at least once a week, and 52 percent reported checking in with the same frequency via a mobile browser. In comparison, only 34 percent of users responded checking into their accounts with the same frequency from a fixed-line computer.

“While mobile channels have not reached the same penetration that traditional online channels have for the use of financial services, it is interesting to note that mobile users access their credit card accounts on a more frequent basis,” observed Ms. Lenart. “Digitally-savvy customers have begun to use mobile and other connected devices such as tablets to engage in online activities that once used to be limited to the computer and are doing so more frequently because of the portability and convenience offered by these devices. As users continue to incorporate the use of these devices into their everyday lives, financial services institutions can expect to see a more engaged audience grow from their mobile channels.”

State of U.S. Mobile Financial Services Webinar

Comscore director Stephanie Houck will be presenting these insights and further analysis from the Q2 2011 Comscore Mobile Financial Advisor in a webinar on October 27 from 2:00-3:00 PM ET. The Comscore Mobile Financial Advisor is a quarterly report that combines insights from Comscore MobiLens (a survey-based service) and a dedicated re-contact survey focused on mobile financial service activities. For more information and to register, please visit: https://www1.gotomeeting.com/register/220422985.

For more information on Comscore Financial Services Solutions, please contact Sarah Lenart, vice president of Comscore Marketing Solutions, at slenart@comscore.com.

About Comscore

Comscore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world and preferred source of digital business analytics. For more information please visit www.comscore.com/companyinfo.

Contact:
Carmela Aquino
Comscore, Inc.
press@comscore.com