The U.S. Latino community reliably drives trends, and those trendsetters prefer mobile and online banking services that are more enhanced and more convenient. According to a survey gauging mobile banking behaviors, Latinos frequently choose online and mobile banking to meet banking need, and they increasingly use new payment services.

The Checking Experience Index produced by the banking institution TD Bank was released on Oct. 12, and it found that 93 percent of Hispanic respondents favored online banking and 81 percent preferred the use of their bank's mobile options when handling day-to-day transactions. The survey not only demonstrated Latinos' propensity for mobile and online use, it revealed Latinos to have a growing appetite for innovative payment options.

Google Wallet, Pop Money, Venmo, PayPal, Square Cash and other services are important among Latinos. In fact, nearly half of Latino respondents (46 percent) indicated they used Paypal within the last three months to send money to peers, citing ease of use and convenience as lead reasons for use. The data demonstrates the expediency of mobile and online banking, as well as payment services. Additionally, the data offers an insightful look into upcoming needs and trends.

Largely tech-savvy and increasingly financially conscious, Latinos are demanding convenience when comes to online and mobile banking. Latino respondents were more likely to say that a bank's mobile app was essential to their checking account (36 percent vs. 22 percent), and they were more likely to turn to their bank's website or mobile app when experiencing issues with their checking account.

Mobile apps and online banking make it easy for Latinos' checking needs to be met. Because Latinos are at the forefront of mobile usage, they manage to teach banks about consumer needs, helping to develop key banking tools. For 42 percent of Hispanic respondents, online and mobile banking features are essential. U.S. Latinos are more likely than the general market to use online payment options to pay bills (78 percent vs. 64 percent), and they're more likely to turn to their apps (32 percent vs. 21 percent) for help.