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By 2018, Javelin Estimates 138 Million Adults Will Access Bank Accounts Through Tablets
Thursday, July 3, 2014 6:20 AM

Tablet adoption has reached the 50 percent crossover point, just four short years after Apple introduced the iPad. While tablets are still largely consumption and not productivity machines, indications are strong that they will replace the laptop’s role in American family life.

Javelin Strategy & Research has just released Tablet Banking Forecast 2014 – 2018: Design and Deployment Strategies for Mass Adoption report, which includes a market-sizing and forecast of tablet bankers, tablet adoption, and tablet operating systems in the U.S., as well as examines consumer behavior and preferences, and makes recommendations for a comprehensive tablet strategy.

Tablets are becoming the primary device used for a variety of mobile banking tasks. In fact, about 1 in 3 consumers point to tablets as the mobile device he or she primarily uses to email the financial institution. Users also turn to tablets at higher rates for advanced mobile banking tasks. Just over 3 in 10 mobile bankers view and pay bills using a browser on the tablet. As ownership rates rise, mobile banking primarily through tablets is expected to become more common.

“The biggest constraint to consumer tablet banking in the next several years is the speed at which financial institutions adapt to consumers’ changing technology needs to provide robust tablet banking apps, especially for the complex Android market. Financial institutions have worked diligently to finesse mobile banking for smartphone users, but they are less prepared for tablet bankers,” said Mary Monahan, executive vice president and research director, Mobile at Javelin.