Mobile banking is the third most popular use of smartphones in the UK, with 42% of smartphone owners using mobile banking, according to research by Consumer Intelligence.
A survey carried out by Consumer Intelligence showed that, with the exception of basic smartphone functionalities – phoning, emailing and texting – mobile banking was joint third with shopping on a list that was topped by social networking (54%) and listening to music (46%).
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David Black of Consumer Intelligence said: "The popularity of banking apps highlights how a growing number of people are able to handle their financial dealings wherever they are.
"Banks and building societies are embracing the technological change with Barclays reporting the first house purchase on a mobile while smaller institutions such as Cumberland Building Society have launched their own versions.
"For banking to be joint third on the list shows just how much consumers trust their banks to provide a secure app through which to access their accounts. Many banks are reporting a surge in mobile banking usage with, for example, Barclays reporting a 150% increase in 2013 and Lloyds Banking Group now having more than 4m mobile banking users."
Satellite navigation at 39%, and watching videos with 35% were the fourth and fifth most popular uses of smartphones.
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By GlobalDataThe least popular were working with documents (13%) and gambling (9%).
Black said: "The low number of consumers using their phones to work with documents illustrates how smartphones are not quite the complete package just yet."
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