The Pandemic Has Compelled an Uptick in Online Banking in Carson City
The COVID-19 pandemic has compelled people around the world and in the Carson City area to bring everything online – from our jobs to how we connect with loved ones – and online banking is no different. Client adoption of technology to manage day-to-day banking needs has skyrocketed.
Nationally, we’re seeing quick adoption of mobile banking usage – according to a recent survey done by the Federal Reserve Bank, 71% of bank customers surveyed use online banking services, while 43% of those surveyed use mobile banking specifically. Additionally, Business Insider states that 89% of American bank account holders use mobile banking for account management, and ConsumerAffairs reports that eight in every 10 Americans prefer banking digitally than visiting a physical branch.
Here in Carson City, that trend continues. Plumas Bank, for instance, saw a nearly 240% increase in business client online banking usage in 2020 compared to 2019. The community bank has also seen over 1,000 clients adopt mobile wallet technology over the last 12 months, and those numbers continue to climb each month.
The heightened use of technology for our everyday and business needs is not projected to cease anytime soon, if ever. In fact, according to Statista, there will be roughly 7 billion mobile banking users worldwide by the end of 2021, and BalancingEverything.com predicts that by 2026, the global online banking industry is estimated to reach $20.5 billion. As such, it is imperative that Carson City residents and business owners ensure they are confident and secure in their online banking efforts.
The online banking technology landscape has been expanding before the pandemic and has picked up speed in 2020. Due to the quieter in-person foot traffic, loan officers and customer service representatives at community banks such as Plumas Bank can give even more time one-on-one attention to those with more complex financial needs and questions. More information can be found at www.plumasbank.com.