Over the course of the last 12 months, online banking usage among first direct customers has declined 21% compared to mobile banking.
While nearly 98% of all transactions made by first direct customers are digital, nearly five times more transfers and payments now take place using the app (82% of payments) compared to online banking (18%). Over 87% of balance enquiries are now made using the first direct app, as opposed to 13% through online banking.
Chris Pitt, CEO of first direct, said: “In the last year we’ve seen a shift in how people are banking, and we’re now much more mobile. Customers expect a safe and secure digital service backed up amazing people 24/7, and banking on the go is now the default option for many.”
10 Years of Banking
This week marks 10 years since first direct launched the UK’s first mobile app to enable customers to make payments directly to third parties. In 2011 mobile banking was still in its infancy, and now their banking app has 12.5 million logins a month, it’s now easily our most used customer channel.
Pitt added: “We think now in weeks and months rather than decades as we introduce innovative – and most importantly – useful features that enable people to do what they need to do and get on with their lives.”
The app currently allows customers to:
- View balances and the last 20 transactions
- Make transfers between your first direct accounts
- Make payments to other people and organisations.
- Pay in cheques (daily limits apply)
- Freeze & order replacement cards
- Apply for Loans, Credit Cards & Regular Saver and Cash ISA accounts