The New York City Department of Consumer Affairs Office of Financial Empowerment (OFE) has explored current mobile financial usage patterns of low and middle income New Yorkers. The purpose of this exploration is to analyze the needs, barriers, and opportunities to increase financial inclusion through mobile financial services use. This project was conducted and designed by RTI International. Research was made possible by funding provided by Capital One and MetLife Foundation.
96% of NYC respondents in the study reported owning a cell phone, 80% of them had a smart phone.
This compared to approximately 87% of American adults nationally, and 71% of them owning a smart phone.
63% of survey respondents reported using some form of mobile banking in the past 12 months, nearly double the national rate (35%).
Underbanked respondents (72%), immigrant respondents (77%), and individuals aged 18 – 29 (81%) are particularly active users of mobile banking services.
Use the following charts to filter the data set. For instance, clicking "60+" on the age bar chart will limit the data to respondent that are at least 60 years old. Filters can be combined (e.g. Prepaid, age 18-29, ...).