Since 2008, the Federal Reserve Bank of Boston’s Payment Strategies group has been conducting biennial Mobile Banking and Payment Surveys of Financial Institutions in New England to assess the state of mobile banking and payment services that they offer to their consumer and business customers. The survey is primarily focused on identifying the types of mobile banking and payment services offered by FIs, customer adoption rates, and challenges to adoption, including security concerns.
In 2014, the Boston Fed expanded the survey to banks and credit unions in other Federal Reserve Districts to extend the impact and value of the study nationally. The Atlanta, Boston, Cleveland, Dallas, Kansas City, Minneapolis, and Richmond Fed Districts participated in the 2016 survey.
The Boston Fed publishes a summary report of survey results for financial institutions in the First District as well as a summary report of consolidated results from all participating Fed Districts.
Payment Strategies publishes reports of the Mobile Banking & Payments Survey results for financial institutions in the First District as well as reports of consolidated results from all participating Federal Reserve Districts.
