Millenials and mobile banking applications – is the sector following the trends?

Millenials and mobile banking applications – is the sector following the trends?

According to the study “Generation #sfintechnique – millenials and fintech”conducted by, a vast majority of the representatives of generation Y use banking applications on their smartphones. Mobile products are the most popular Pekao SA, ING Bank Slaski, BNP Paribas and Alior Bank. More than 6 in 10 respondents say they can’t imagine life without a banking app on their phone.

Commercial digital services, bank accounts and smartphones

Streaming platforms are the most popular among the participants of the survey “Generacja #sfintechowani – millenialsi i fintech”. Nearly 41% of respondents declared daily use of streaming video services. respondents. Music streaming is used daily by 47% of respondents. surveyed. Carsharing services and online insurance were the worst in this respect. Another 69.9% of respondents. and 75.5 percent. The majority of respondents declared that they do not use them at all.

Millenials overwhelmingly have an open bank account. A mere 3.6 percent. of respondents answered in the negative to the question “do you have a bank account?”.

Representatives of generation Y are, in vast majority, big enthusiasts of smartphones. More than half of them (53.2%) in response to a question about the intensity of use of a device, gave the highest number, which in practice means not being separated from the phone. Only 2.9% of respondents chose the value of using a smartphone for occasional communication. Intermediate values were chosen by a total of less than 44 percent. of respondents.

As many as 90% of respondents declare they have a banking mobile application

According to data from a report by Alior Bank, online banking is popular in Poland, even among the whole population. Data presented by the bank shows 70 percent. as a percentage of Poles who use the web to perform banking operations. The results are slightly worse when it comes to mobile banking (45 percent.).

The situation looks much better in light of data presented by Here as many as 9 out of 10 respondents declared that they have installed the bank’s mobile application on their phone.

Alior Bank’s survey took into account the full population range of the respondents. An increase in the adoption rate of all new technologies is inversely proportional to the age of users – comments Krzysztof Jędrzejczyk, Communications Manager, Fintek.en /KLANG! Media. – Our survey concerned only millenials, who, next to generation Z, are the most technologically oriented age group.

Popularity ranking

The bank’s mobile app is on their phone 100 percent. of respondents holding an account with Pekao SA, ING Bank Śląski, BNP Paribas and Alior Bank. Minimally worse in this respect are the clients of Santander and Bank Millennium (both 94%), mBank (93%), and Bank Pocztowy (93%).) and PKO BP (85 percent.).

Bank’s mobile application? I cannot imagine life without it

High ratings are accompanied by the users’ conviction about the fundamental role of applications in everyday life. In total over 63 percent of respondents. respondents declared that they “could not imagine life without a mobile banking application”.

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