“There is a correlation between how rich the apps are in features and how engaged end-users are. As expected, the more feature-rich digital offerings have higher engagement,” it added.

The report included other statistical findings, as well:

• The overall average value for a consumer money transfer using digital bank or credit union services is $375. Financial institutions reportedly ranged from $162 to $3,100 in this measure. For business digital users, the average was $27,000.
• The average value of a bill payment is $355 for consumers and $2,300 for businesses.
• The average remote check deposit is $425 for consumers, but half of all financial institutions in the sample reported average values under $400. “Clearly, very few credit unions and banks allow for large deposits, and most are getting much lower average values,” the report said. “Keep in mind that this is highly influenced by the limits put on the feature as all banks and credit unions can decide on what value of deposit to allow, both for a single deposit and for several deposits taken over a period of time.”
• The iPhone is still the most popular device for digital banking, with 60% of all digital customers using one. Tablets were less popular. “iPads and tablets lag. At the best financial institutions only 4.5% of their active end-users choose to use the iPad. The average is 2%. Lowest, under 1%. Clearly, tablets do not excite,” Malauzai reported. Almost all tablets (95%) are registered with a smartphone as well, suggesting that they are not exclusive to their tables but rather use them in addition to their smartphones.