Compass Plus – Mobile banking on the rise

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The results of recent research by Smart Money People into UK consumers’ banking preferences revealed an increasing preference for app-based banking over all other channels: online, in-branch and telephone banking. According to the report, in 2018 39% of respondents said apps were their go-to banking method, compared to 38.6% for online banking. The difference may seem subtle, but this is the first time ever that mobile banking has overtaken its online counterpart. As people’s lives have become increasingly fast-paced, mobile banking has become essential for many consumers.

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