Despite banks’ ongoing focus on mobile, people aren’t signing up.

The implication is that mobile banking is close to peak adoption, and that banks will have to work hard to overcome consumer resistance.

Research indicates that by far the two biggest reasons for non-usage are concerns about security and preference for using other channels.

GlobalData’s annual retail banking survey shows that 11 percent of global online consumers accessed their bank via their mobile device, a proportion that is no higher than in 2013/14.

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Although branch traffic is falling, branches still play a huge role in customers signing up, and that — contrary to expectations — younger customers are heavier users of this channel than older consumers in some places.

Could artificial intelligence (AI) spur adoption?

This year will see significant growth in the number of AI-powered banking chatbots, often through the likes of Facebook Messenger and Amazon Echo.

Banks will be able to go where their customers are, rather than vice-versa.

They will be able to embed themselves into their customers’ lives, and, using AI, deliver high quality insights that anticipate users’ needs even before they have been clearly articulated.

While the traditional mobile banking app may be reaching the limits of its usefulness, chatbots could revitalise it.