Despite all the digital efforts from financial institutions, consumers still don’t make use of their in-app money transfer functions.

According to the February Monkey Insights report released by Malauzai Software, 100% of active users on mobile check their balance, but only about 16% of them transfer money.

Is that really a problem?

Not so much, according to Robb Gaynor, chief product officer for Malauzai.

“Users are still logging in 20 times a month,” says Gaynor. “We’re giving them enough functionality [in the app] that there’s something new for them to do every time.”

Malauzai pooled data from 640,000 active internet and mobile banking users of more than 415 financial institutions throughout the month of January.

As Gaynor noted, what users do in a mobile banking app is not as much of an issue as coaxing them to do something–in other words, consumer engagement should still be an FI’s top focus when it comes to designing a mobile or online banking application.

“Most people use the app to check balances, check transaction history–that’s about 70% of app usage now,” said Gaynor.

Money transfers account for 50% of money movement for mobile banking, followed by bill pay, according to the report. Users made four internal transfers (meaning, money movement within one FI) in January, compared to the two transfers they made externally (from one financial institution to another).

It is worth noting that transfers and bill payments are the whole reason consumers use PayPal and Venmo in the first place.

To learn more about online and mobile banking, join us in San Jose on March 6-7 for Bank Innovation 2017, where the best conversations in fintech take place. Request your invitation here.