Report: Millennials Rule in Mobile Banking

Report Millennials Rule in Mobile BankingAccording to the findings presented in this year’s xAd/Telmetrics Mobile Path to Purchase Study, banking and finance mobile users are heavily ruled by Millennials.

xAd, one of the largest mobile advertising platforms in the U.S., revealed this week that nearly half of all mobile bankers were under the age of 35 and one-third indicated that smartphones were the most important device for their banking needs.

The Banking & Finance findings also revealed that nearly two-thirds of younger bankers completed a transaction on a mobile device and relied heavily on their devices – from initial research all the way through conversion.

With nearly three out of four younger bankers noticing mobile ads during their research process, xAd insists that advertisers have a strong opportunity to engage them with promotions, which especially appeal to this younger set.

Mobile bankers who are 45 and older shouldn’t be ignored, however, as they are more likely to notice targeted ads.

“The 35 and under crowd make up a very strong and growing portion of mobile banking and finance today using their devices throughout the research and transaction process,” said Monica Ho, vice president of marketing at xAd. “Advertisers have a unique opportunity to reach Millennials through specific promotions, tailored creative as well as messaging to convert them into early brand loyalists.”

To learn more, check out the infographic from xAd shared below.