Florida is the top state for mobile banking, a new study from software company Vention finds. The study utilized Google Keyword Planner to analyze the nationwide Google search volume behind various keywords related to mobile banking—including “mobile banking,” “mobile banking app,” and “best mobile banking app” — to identify which states are most engaged with this financial technology. This search volume was then scaled against each state’s population to ensure fair comparisons and determine where searching for mobile banking is the most common and which states aren’t as interested.
Mobile banking has rapidly gained popularity, driven by its convenience and accessibility. A recent survey conducted by MarketWatch found that nearly 75% of people prefer mobile and online banking over in-person banking.
As America’s mobile banking hotspot, Florida boasts the highest average monthly search volume of 7,983 searches for online banking-related terms per 100,000 residents.
In second place, Connecticut had a monthly search average of 6,418 per 100,000 residents. According to the study, Connecticut’s most searched-for bank was Bank of America, with more than 52,000 monthly searches.
Ranking in third place, New Jersey had an average of 6,020 monthly searches per 100,000 residents. New Jersey residents searched for mobile banking-related terms 559,342 times per month.
Maryland is closely behind in fourth place, with 5,953 monthly searches per 100,000 people—just 67 searches fewer than New Jersey. Maryland residents searched for mobile banking-related terms 367,908 times per month.
Arizona is in fifth place, with 5,928 monthly searches per 100,000 residents. Arizona residents’ most-searched-for bank was Wells Fargo, with 127,713 searches per month on average.
Massachusetts takes the sixth spot with 5,861 monthly searches per 100,000 residents. In total, residents made over 400,000 online banking-related searches per month.
California, known for its tech-savvy population, ranks seventh with 5,489 monthly searches per 100,000 residents. The top search term in California was “Chase login”, with more than half a million monthly searches indicating that residents favor Chase Bank over other banks.
Virginia secures the eighth position with 5,458 searches per 100,000 residents each month. On average, residents searched for mobile banking-related terms 475,720 times.
Delaware follows closely behind in ninth place with an average of 5,344 monthly searches per 100,000 residents. Rounding out the top 10, North Carolina had 5,324 monthly searches per 100,000 residents.
At the other end of the scale, the states with the lowest engagement in mobile banking have also been identified, revealing a stark contrast to the top performers.
Oklahoma has been revealed to use mobile banking the least, with an average of just 1,801 monthly searches per 100,000 residents. This equates to just 73,021 searches for online banking-related terms per month, suggesting that many Oklahomans may still prefer traditional banking methods over mobile banking solutions.
North Dakota followed closely behind, placing second from bottom, with just 1,881 searches per 100,000 residents. According to the study, North Dakota’s bank of choice is Capital One, with an average of 3,817 searches for ‘Capital One login’ each month.
The average monthly search volume in Kansas is 1,893 per 100,000 residents, placing it third from the bottom. Capital One is also Kansas’ bank of choice, with nearly 14,000 searches for its login page per month.
Kentucky is the fourth least banking-savvy state, with 1,917 searches per 100,000 residents. Residents searched for mobile banking-related terms an average of 86,746 times per month.
Mississippi, with 2,054 searches per 100,000 residents, and Iowa, with 2,061 searches per 100,000 residents, rank fifth and sixth, respectively. They show moderate but still relatively low levels of interest in mobile banking. Mississippi residents prefer Capital One Bank, while Iowans favor Wells Fargo, with 13,518 and 16,046 average monthly searches, respectively.
Arkansas ranks seventh from the bottom, with only 2,067 monthly searches per 100,000 residents. The study authors suggest the state’s rural demographic might contribute to this lower engagement rate.
Nebraska and Missouri have slightly higher averages, with 2,401 and 2,403 searches per 100,000 residents, respectively, ranking them eighth and ninth from bottom. These states show a gradual increase in interest but still need to catch up to the national average.
Utah rounds out the bottom ten with a more respectable 2,480 searches per 100,000 residents. Although it has the highest search volume among the bottom 10, it remains significantly lower than the top states compared to its population. Utah is another state that favors Wells Fargo, with a total monthly search volume of 27,285 for the bank.
Commenting on the findings, Marc Karasu, CMO at Vention, said, “It’s fascinating to see which states are adopting the latest trends in banking technology more quickly and which are lagging.
“What’s more, mobile banking popularity is set to keep rising, with research predicting that over 79% of the population will use online banking by 2029.”
“Studies such as these are invaluable for the banking industry to identify where to focus their marketing efforts. Additionally, they highlight the states that could benefit from increased financial technology education and support.”