In the United States, the usage of mobile banking differs among demographic groups. A 2018 survey examined this topic and found that 69.3 percent of Millennials used mobile banking. In contrast, only 24 percent of Baby boomers used it. Most community banks didn't have a mobile app as of 2018, which may prove problematic if they want to attract younger customers.
Mobile banking offers flexibility and convenience to bank consumers, who wish to carry out financial transactions outside of traditional bank branch hours and from any location. In a 2018 survey, 90 percent of the respondents started using mobile banking apps to view their account balance. Many mobile banking users cited having a greater awareness of their financial situation as the biggest benefit of mobile banking. Mobile banking users were more likely to know their exact balance than other banking customers were in 2018.