According to SimilarWeb’s latest report, U.S. Bank’s Digital Engagement, changes in mortgage rates can affect website traffic to both banks and credit unions.
The data revealed that as rates for 30-year fixed rate mortgages increased last spring, traffic to U.S. bank websites rose, but as mortgage rates subsequently decreased in the second half of 2015, so did corresponding website traffic to banks and credit unions.
Traditional financial transactions that were once only available from local bank branches — viewing account balances, paying bills, transferring money, and explore products like mortgages, auto loans, and credit cards — are now available online.
Whether accessing their accounts via smartphones, tablets, or traditional computers, the multi-device nature of customer engagement is guaranteed.
The data in the report reveals that, although customers currently spend more time on bank websites from desktop computers than they do from either mobile browsers or apps, U.S. mobile banking activity is growing quickly.
Mobile apps are also critical way for banks to nurture customers within the institution’s own financial brand ecosystem. Apps offer valuable opportunities to , provide customers with not only a great experience, but also communicate with them about other products and services.
Other data-driven highlights in SimilarWeb’s new U.S. banking report include:
- Days when customers access bank websites and apps the most
- Peak daily activity times for mobile banking apps.
To get more digital insights about U.S. banks and credit unions’ app, mobile web, and desktop website engagement, download the full report.