App-using bank customers more likely to share the love

Mark Bristow

Mark Bristow

( 2 min read )

Do you mostly do your banking on an app? If you do, you may be more likely to be satisfied with your bank, and more likely to recommend their services to a friend, according to a new study.

The first Roy Morgan Single Source Survey, which covered 50,000 Australians over 12 months to January 2018, found that while internet banking is still the most common method for dealing with banks, it is losing some ground to apps on mobile phones and tablets.

The survey found that the likelihood of customer recommending their bank to a friend depended in part on the channel through which they experience their bank’s services:

High likelihood of recommending bank based on channel used

Bank channel used in last 4 weeks High likelihood to recommend bank
Internet banking using an App on a mobile phone/tablet


Visited a branch 64.7%
Internet banking using a website 64.2%
Contacted personal or private banker 60.3%
Contacted financial planner/adviser 59.1%
Phone banking spoken to a person 57.6%
Phone banking with computerised voice response 52.1%

Source: Roy Morgan

While the survey found that people were most likely to recommend banks where they interact through an app, they were least likely to recommend computerised phone banking services.  

Roy Morgan industry communications director, Norman Morris, described the growing proportion of app-using customers as a likely positive outcome for banks, thanks to their high level of advocacy:

“Meeting customer needs in terms of their channel preferences, rather than trying to encourage them on to another channel is likely to create more loyal customers.”

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