When a business tries mobile banking, it tends to like it and to linger in long sessions.
That's the big takeaway from data on mobile banking and business users released by Malauzai Software, a mobile banking app developer based in Austin, Texas.
The findings represented usage by a couple hundred businesses at some 20 financial institutions, according to Malauzai Co-founder Robb Gaynor.
Among the key facts in the study was that business users stayed online longer.
The average session duration for a business was 2:29 minutes, a full minute longer than consumers who average 1:20, Malauzai's data showed.
Shockingly and inexplicably, Gaynor admitted, was that a full 81% of business usage involved an Apple device, either an iPhone or an iPad. For consumers accessing Malauzai mobile banking, about 60% came in via Apple devices.
The data also showed that businesses tend to move more money than consumers do.
“The average value of an internal transfer is $1,950 for businesses compared to $450 for consumers,” according to the Malauzai study. “The average size of a mobile check deposit is $596 per item compared to $405 for consumers.”
Gaynor said a big surprise, “is that business enrollment in mobile banking is not brilliant.”
At a typical Malauzai institution, 90 days after rollout of the app to consumers, 10% to 15% of all members will be active users, he noted.
“With businesses, we are seeing much smaller numbers,” Gaynor said. “That was surprising.”
Interestingly, none of the Malauzai institutions offering mobile banking to businesses charged a premium for that access, he added.
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