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When it comes to smartphones, camera functionality is an essential feature for millennials. Selfies aside, this demographic’s picture-taking behaviors have expanded to other purposes, like mobile banking.
A September 2015 Mitek study conducted by Zogby Analytics revealed that 72% of US millennial smartphone users said their device’s camera function was indeed very important to them. It’s so imperative in fact, that almost a third of respondents said they would immediately get it fixed because without it, the device is practically useless. Another 29% would take the opportunity to get a new phone—again, immediately.
Camera functionality may be essential because of the frequency with which US millennial smartphone users take selfies. According to the study, 38% admitted to taking at least one selfie a day.
But the ease of taking photos has millennials expanding their camera skills to other activities, including mobile banking. Indeed, 68% of US millennial smartphone users would rather use mobile capture—taking a picture with a smartphone for data extraction purposes—instead of manually typing information on their device.
Behaviors such as these have led to a rise in mobile banking. More than half of US millennial smartphone users have deposited a check by taking a picture of it.
Furthermore, a separate JPMogan Chase & Co. study found that digital banking usage is highest among this demographic. A little over two-thirds of millennials used a bank’s mobile app. While online banking usage still reigns, millennials are clearly comfortable using their device, as well as its camera functionality, for their banking needs.
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