Retail Banking was one of the first industries to adopt mobile as a customer touch-point and has seen a huge shift in customer behavior as a result. As banks continue to innovate and introduce more advanced features and personalization to their customer experience, it’s clear that mobile and digital banking are here to stay. With recent advances, it’s likely that your next transaction will be on a mobile device or tablet.
We’re always monitoring the banking space, both in service of our Financial Service clients, but also for broader trends that are impacting mobile usage. The current trends range from customers being open to paying for these services to the creation of mobile-enabled ATMs, and the impact that organizational design can have on the success of mobile solutions.
Here are a few recent pieces which have captured our attention and shaped our thinking:
- Mobile Banking customers are open to the concept of paying for access to mobile banking services
Some bank customers would actually pay to use their lender’s mobile app, according to the results of a new survey – and customers of Charlotte-based Bank of America are the most open to the idea. - Wells Fargo’s mobile banking app says “Hola” to Spanish customers
Wells Fargo & Co. has added a Spanish-language option to its mobile banking application, building on the financial institution’s introduction of Spanish Text Banking last year, as it seeks to address this demographic’s close relationship with their smartphones. - Marketers must understand mobile banking consumers’ lucrative potential
Marketers have been missing a potentially lucrative and viable opportunity to target the emerging demographic of consumers using mobile devices for financial services and payments, suggesting that these users must be understood more fully so that banks and financial institutions can garner more clients, according to a report from Phoenix Marketing International. - BMO Harris Bank builds largest network of mobile-enabled ATMs
BMO Harris Bank is taking mobile banking to the next level by enabling consumers to withdraw money from an automatic teller machine using their smartphone. - Organizational change for Digital Banking
What’s a key advantage digital businesses have over banks? Customer focus is designed into their business models from day one.
See how we can help you envision and execute your next mobile banking strategy.
