Oddly enough, iPhone users aren’t those most likely to be doing their banking via mobile device. Instead, Android users are the most frequent users of mobile banking technology, according to a report by Javelin Strategy & Research.

The report, which focused on the expected rapid increase in consumer use of mobile banking, found Android owners were the most likely to have logged into their bank’s mobile site in the past seven days. iPhone users came in second.

Mobile banking popular and growing fast

Though mobile banking still lags behind traditional banking and online banking in terms of popularity, smart phone users are adapting to the technology quickly.

Nearly half of iPhone and Android owners use mobile banking at least once every three months. That total is nearly triple the average for all consumers. About 20% of all consumers expressed interest in banking from their phones. But as smart phone penetration grows, that number is expected to rise as more people adopt mobile banking, according to the report.

“With advanced mobile infrastructures, high consumer adoption of mobile banking and an array of deployed technologies, international markets like Japan provide a blueprint for success that can be anticipated here,” said Javelin Strategy & Research founder and president James Van Dyke. “U.S. consumers want the convenience of paying bills, transferring funds and making purchases through their phones, and stakeholders need to step up to give them the access, control and functionality they desire.”

The report found that additional education and marketing on the topic of mobile banking could help expand the popularity of the technology. Despite the spread of mobile banking among smart phone users, about 20% of U.S. consumers do not see any benefit in mobile banking, say they do not know how to sign up or do not know how to use a smart phone.

For a wrap-up of some of the best mobile banking applications, click here.

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