CreditUnions

Mobile Banking: From Transaction to Experience

Mobile Banking: From Transaction to Experience

There's been a significant shift in the retail landscape and the way people prefer to purchase. Today's consumers expect more than just the ability to buy a product or, in the case of credit unions, conduct basic transactions. Instead, they expect a full-fledged experience.

The Big Banks' Latest Trends in Mobile Banking

The Big Banks' Latest Trends in Mobile Banking

Big banks have been committed to working out their mobile strategies over the past two years and are now unveiling the dramatic results they’ve achieved. According to AlixPartners, big banks controlled 67 percent of the primary banking relationships by the second quarter of 2014, while credit unions had 14 percent. Mid-size banks controlled 11 percent, community banks 4 percent and all others at 4 percent.

Why Credit Unions Need to Venture Beyond the 'Big 5' of Mobile Banking

Originally posted on CUBroadcast.com April 7, 2015

According to StrategyCorps Partner Dave DeFazio, there are five mobile banking "must haves" today:

  1. Mobile banking
  2. Mobile bill pay
  3. Mobile deposits
  4. ATM/branch locator
  5. P2P payments

If you have those, you are meeting the needs of today's increasingly mobile consumer. If not, you better get on the stick. But, as we all know, the FI market continues to evolve at a breakneck pace and CUs must be ready for it. So we asked Dave what's on the not-so-distant horizon when it comes to mobile services -- venturing beyond the big five, if you will, that keeps your members happy and loyal to your credit union.

Keep reading at CUBroadcast.com →