Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Mobile banking paper addresses shift to self-service
DES MOINES, Iowa (8/15/11)--It’s time for financial institutions to rethink the way they service consumers--understanding that today’s consumer increasingly values self-service over traditional customer service—according to a new white paper from The Members Group (TMG). The shift in customer preference has elevated the importance of products like mobile banking for community-based financial institutions, according to the white paper’s author, Brian Day, product development architect. “Making time for chit-chat is not a priority for Generation Y, nor even Gen X and their parents, the Boomers,” wrote Day in the white paper, “Self Service as Customer Service.” “We are a busy, mobile society, and we expect our financial institutions to stay in stride. Day explores the top five mobile banking activities--checking balances, transferring funds, paying bills, depositing checks and finding an ATM--and what he calls the “mobile banking triple play.” The triple play refers to the three methods of accessing mobile banking-- text, browser and application. Day also provides an analysis of the benefits mobile banking provides financial institutions, and shares customer service cost figures on a per-engagement level. A core strength of mobile banking is the ability to retain and attract customers and members, Davis writes. One study by Javelin Research indicates that a growing percentage of consumers are switching financial institutions to access emerging technologies like mobile banking. To read the paper, use the link.
Other Resources

RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
13 minutes ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
46 minutes ago