By Beatriz Paniego-Béjar, Content Specialist, UnidosUS
Mobile phones are now an extension of our lives, especially for Hispanics. According to a study from the research group ThinkNow, “there are just over 46 million Hispanic mobile phone users and this number is expected to grow to 51 million by 2020,” and 93% of Latinos own either a smart phone or a tablet.
Following these trends, the use of online banking among Latinos is also increasing. According to UnidosUS and PolicyLink’s The Future of Banking: Overcoming Barriers to Financial Inclusion for Communities of Color, “in 2017, slightly more than one in four (25.8%) Latinos used online banking as their primary method to access their bank accounts” with younger generations feeling most comfortable with online banking.