You may have noticed that Andera released a couple of related reports this month, Mobility Trends 2013, and Mobile Account Opening 2.0. (Don’t worry, if you’re that atypical bank or credit union representative who doesn’t religiously read every Andera publication, my feelings won’t be hurt). Here’s a quick summary of the two reports:
Mobility Trends 2013
This report pulls data from Andera’s Google Analytics account to update the same report we released last year. Google Analytics allows you to track pageviews by device, and we’ve been tracking the increase in mobile traffic to our client’s online account opening applications since 2010. Over the last year the percentage of applications accessed from mobile devices grew by 71%, from 9.5% to 16.3%. This means that the percentage of traffic from mobile devices to applications for financial products is actually a little bit greater than total traffic from mobile devices to all websites, which according to an Adobe Digital Trends analysis of more than 100 million visits to 1,000+ websites, is roughly 15%.
We also broke down the numbers for tablets and smartphones, and for iPads and iPhones, the two devices most frequently used to access online account applications (although they are both losing ground to Android devices, particularly the Samsung Galaxy series).
Mobile Account Opening 2.0
The second report we released, Mobile Account Opening 2.0, features less data and more theory. Obviously the title is a bit a of a play on words; we don’t sell a product called Mobile Account Opening (we sell oFlows) and we haven’t released a second version of it. Instead, the report is an overview of Andera’s approach to using mobile devices to apply for financial products online.
First, the report defines mobile account opening and explains why it deserves its own term (after all, mobile account opening is technically just online account opening from a mobile device), and second, it explains what recent developments in mobile technology and design have influenced mobile account opening over the last few years and warranted the modifier “2.0.”
You can download the reports by clicking on the thumbnails next to their descriptions. (Hey, why not, both reports are free!)
Melanie is a member of the first class of Venture for America, a two-year fellowship that seeks to revitalize American cities through entrepreneurship by matching recent college graduates with start-ups.You can reach her at email@example.com or on twitter @mfriedri.