Mobile banking is becoming the channel of choice for consumers. Gerard du Toit, a partner at Bain & Company, said most people use mobile banking apps to check their balance or make basic payments. "Banks are in the nascent stage in terms of their ability to sell through mobile, but we expect this to really take off. Banks who can't sell effectively through mobile are going to get left behind," he said. "Mortgages are taking longer, but over time we expect them to become easier to buy digitally."