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Brits managing bank accounts by phone check them more often than internet bankers

Thu, 21 Oct 2010

Smartphone technology is behind a "quiet revolution" taking place in banking practice, according to new research compiled by Monitise PLC, which works with VISA, Lloyds, RBS and other partners to supply mobile banking and payments services world-wide.

The rising number of Britons who manage their bank accounts by mobile phone check their accounts three times as often as an earlier generation of internet bankers . Over three million people in the UK now manage and keep track of their money on their mobiles, checking their accounts about 18-20 times a month, or once every two days on average.

Current UK Government statistics indicate that online banking is still far more prevalent than mobile phone access. In 2009, of the 37 million UK adults who reported using the internet in the last three months, more than 50 per cent, over 20 million, had accessed internet banking . On average they checked their accounts only six times a month, say Montise.
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