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USAA Reports 127-Percent Increase in Mobile Use by Customers

Because of the growing demand for mobile tools, USAA says it will soon offer a mobile wallet product.

USAA reported a 127-percent increase in the use of its mobile tools by customers during 2011, the company reported this week. Additionally, USAA members downloaded the bank's mobile and iPad apps 1.6 million times during the last year.

Because of the increasing popularity of its mobile offerings, USAA said it plans to offer more mobile payment solutions and financial tools -- including the introduction of a mobile wallet.

USAA also reported an increase in mobile check deposits, with approximately 7.7 million checks totaling $4.3 billion deposited, a 150 percent increase over 2010.

USAA, which launched its app for the iPad in early 2011, said there were more than 375,000 downloads throughout the year. The company also announced that its P2P payments service, which launched on USAA's Android app, will soon be available for the iPhone.

"Nearly half of all USAA members own a smartphone and by the very nature of their military jobs and mobile lifestyles, they need tools that allow them to help manage their finances from anywhere," said Todd Walthall, senior vice president of Channel Management at USAA, in a statement.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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