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Infographic: Two-Thirds of Consumers Have Never Used an App to Send Money

Print hed: New Cash
Print dek: How apps are converting the best way the arena banks—and the way they aren’t.

Whilst smartphones have revolutionized the best way we do maximum the whole lot, from purchasing groceries to doing laundry, fewer other folks use apps to maintain their funds than one may assume, in keeping with new analysis from tool corporate Clarabridge.

Whilst 64 p.c of shoppers have downloaded their financial institution’s cellular app, most effective a few 3rd (37 p.c) have despatched cash the use of an app like PayPal or Venmo up to now six months—and simply 29 p.c say they use a virtual pockets like Apple Pay or TransferWise.

“Shoppers lately are abruptly embracing virtual channels when interacting with manufacturers,” mentioned Mark Bishof, CEO of Clarabridge. “Whilst plenty of banks have invested closely in virtual transformation initiatives, our findings counsel that fragmented reviews and research around the many verbal exchange channels have stunted shopper engagement. We consider there’s a super alternative for business expansion by way of growing efficient and easy virtual buyer reviews throughout banks’ techniques and trade processes.”

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