Consumers were asked to indicate the type of activities they preform on their cell phone.

One-half (50%) of all households indicate that they use their cell phone to send and receive text messages, while 15% report that they use their devices to send and receive e-mail messages. 

Given that many financial institutions want to determine the best avenue (e.g., text-based or browser-based applications) to provide banking functionality through mobile telephones, it is quite clear that consumers are equipped right now to adopt a text-based application.

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About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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