There has been a 9% uptick in the number of mobile banking apps since last year, according to a new report from Malauzai, now a Finastra company. That year-over-year increase is the highest it has been in the past three years, the report stated.

The report, released this week, shows that there is currently a total of 7,346 financial institutions in the country, out of which 6,351 have mobile banking apps. That means 86% of the existing FIs have a mobile offering.

“Much of the growth is due to consolidation, and FIs under $100 million in assets are finally launching an app. Phew,” the report stated.

And it’s not just the banks. Credit unions have also actively started thinking about adding mobile apps to their offerings. In fact, earlier this month Bank Innovation reported that Fla.-based Suncoast Credit Union is in the process of creating a mobile app in addition to the existing core app, but geared specifically for a millennial audience.

Of course, one of the most popular use-cases for these apps is P2P transactions. Based on Malauzai’s October Monkey Insights report, P2P payments are up 250% YOY. But this is no thanks to bank-backed P2P service Zelle, because according to the report, only 20 or so out of the thousands of FIs are using Zelle. (Though Zelle, currently used by the largest FIs, is growing more quickly than Venmo, according to latest reports.)

Robb Gaynor, general manager digital banking for Malauzai, said in a statement:

It’s no surprise that payments, specifically P2P features continue to surge, although we’re still waiting for Zelle to take the industry by storm. It’s clear that this is not the preferred choice of community banks and credit unions. Business mobile is finally gaining some traction. The industry has definitely made progress when compared to last year’s data; however, there is still a lot of work to be done to ensure these apps provide actual value to business owners.

When it comes the retail side, the most popular feature banks have been adding to their suite is card management.  The number of banking apps offering in-app debit or credit card controls grew to 633 banks and credit unions, representing a 125% increase. 

The October 2018 Monkey Insights report gathers data by Malauzai from over 400 banks and credit unions, covering 19.6 million logins from 980,000 active internet and mobile banking during the month of September.

Read the full report here.