Mobile banking popularity set to soar in the US, with 79% adoption predicted by 2029

By Puja Sharma

• A new study has revealed the states using mobile banking the most, based on regional Google search volumes.  
• Florida is the state using mobile banking the most, with an average monthly search volume of 7,983 searches per 100,000 people.   
• Oklahoma uses mobile banking the least, with the lowest Google search volume at just 1,801 monthly searches per 100,000 people. 

A new study has revealed which states are leading in mobile banking usage, with Florida emerging as the most financially tech-savvy state.

The study, conducted by software development company Vention, utilized Google Keyword Planner to analyze the nationwide Google search volume behind various keywords related to mobile banking—including ‘mobile banking,’ ‘mobile banking app,’ and ‘best mobile banking app’—to identify which states are most engaged with this financial technology.

This search volume was then scaled against each state’s population to ensure fair comparisons and determine where is searching for mobile banking the most – and which states aren’t as interested.

In recent years, mobile banking has rapidly gained popularity, driven by the convenience and accessibility it offers. A recent survey conducted by MarketWatch found that nearly 75% of people prefer mobile and online banking over in-person banking.

Florida claims the top spot with the highest interest in mobile banking, which is unsurprising given its diverse and tech-savvy population. As America’s mobile banking hotspot, Florida boasts the highest average monthly search volume of 7,983 searches for online-banking related terms per 100,000 residents.

In second place, the state of Connecticut had a monthly search average of 6,418 per 100,000 residents, revealing that a significant portion of its population prefers managing their finances through mobile apps. According to the study, Connecticut’s most searched-for bank was Bank of America, with over 52,000 monthly searches.

Ranking in third place, New Jersey had an average of 6,020 monthly searches per 100,000 residents, indicating a strong preference for mobile banking among its residents. In total, New Jersey residents searched for mobile banking-related terms a staggering 559,342 times per month.

Oklahoma has been revealed as the state using mobile banking the least, with an average of just 1,801 monthly searches per 100,000 residents. This equates to just 73,021 total searches for online banking-related terms per month, which suggests that many Oklahomans may still prefer traditional banking methods over mobile banking solutions.

California, known for its tech-savvy population, ranks seventh with 5,489 monthly searches per 100,000 residents, indicating widespread use of mobile banking apps. Notably, the top search term in California was ‘Chase login’, with more than half a million searches per month, indicating that residents favor Chase Bank over other banks.

Utah rounds out the bottom ten with a more respectable 2,480 searches per 100,000 residents. Although it has the highest search volume among the bottom ten, it remains significantly lower than the top states when compared against its population. Utah is another state that favors Wells Fargo, with a total monthly search volume of 27,285 for the bank.

Commenting on the findings, Marc Karasu, CMO at Vention, said, “It’s fascinating to see which states are adopting the latest trends in banking technology more quickly and which are lagging.

“What’s more, mobile banking popularity is set to keep rising, with research predicting that over 79% of the population will be using online banking by 2029.

“Studies such as these are invaluable for the banking industry to identify where they need to focus their marketing efforts. Additionally, it highlights the states that could benefit from increased financial technology education and support.”