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Mobile banking adoption growth is slower than you think

Celent Banking

While 53% of smartphone users have used mobile banking in the last 12 months (nowhere near “active”), that number has only grown 3 points since 2012, a CAGR of just 1.9%! One fact that sticks out is how slow mobile banking adoption has been over the last few years. Mobile only has a 2% share of total sales.

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We analyzed 7 of the fastest-growing personal finance apps of all time to figure out the secrets to their success — here’s what we learned

CB Insights

In each instance, we tore apart the UX and UI of each tool, looked at their growth and revenue numbers, pored through interviews with founders and early employees, researched their public reception, talked to employees, and did our own math. A few years later, in 2012, user growth plateaued again.

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