Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mobility devices affect productivity
MADISON, Wis. (7/30/12)--Mobile devices to provide support and enhance worker productivity are a critical priority of 65% of enterprises in North America and Europe, according to a report issued in April.

While some credit unions are already jumping on the mobile bandwagon for members' convenience, they may get an added benefit from these in terms of employees' productivity.

The April survey conducted by Chris Shea of Forrester Research found that 65% percentage figure to be a 15% increase from 2011.

The top five benefits of mobile technology for enterprise and small-to-medium organizations, according to Forrester are:

  • Increased worker productivity (75%);
  • Better responsiveness and decision-making speed (65%);
  • Faster resolution of customer issues (48%);
  • Quicker resolution of internal information technology issues (48%); and
  • Improved customer satisfaction (42%).
A major trend is the rise of the use of tablets. In December alone, the percentage of people who own tablets jumped to 19% from 11%, according to Pew Research. 

Mobile banking and devices are in the news daily. For example, Bank of America (BofA) Thursday unveiled its mobile check-deposit product (American Banker July 26). Currently available on the iPad, Mobile Check Deposit will coming on other devices soon, BofA said.  In Thursday's announcement, the bank also said person-to-person mobile payments will be available in the bank's mobile apps for several devices.

Credit unions and credit union organizations already involved in using mobile technology include:

  • CU*Answers, a credit union service organization (CUSO), which partnered with Tennessee-based CU Mobile Apps. CU*Answers will integrate CU Mobile Apps' smartphone mobile banking application with the It's Me 247 online and mobile banking suite. CU Mobile Apps is the most recent product offered by Member Service Solutions LLC, a provider of insurance and financial solutions for credit unions and financial institutions (News Now June 25).
  • Wescom Resources Group (WRG), a CUSO that provides software and technology service solutions, will offer the Online Banking Solutions' (OBS) Messenger Financial Center to deliver business information and payment services online to its clients. In turn, OBS will offer WRG's MemberEdge electronic banking suite for consumers to credit unions implementing the OBS Messenger Financial Center. OBS Messenger Financial Center is a business e-banking platform supporting real-time account and transaction reporting, e-statement delivery, stop payments, positive pay, account transfers and payment initiation of automated clearinghouse transactions and wire transfers.The OBS Messenger Mobile Banking partner product delivers information and payment services through the mobile channel (News Now June 26).
  • University FCU, Austin, Texas, has registered its 20,000th member for mobile banking, achieving 25% adoption in the first nine months, according to mFoundry, a mobile banking and payments provider. University FCU also is processing more than $2 million mobile deposits per month, mFoundry said (News Now July 13).
  • Oceanside (N.Y.) Christopher FCU, The Catholic Credit Union, announced July 20 that it is accepting entries through Tuesday in its First-Ever Mobile Banking Sweepstakes. One grand prize winner will be named in August and receive a New iPad with Wi-Fi, a $500 retail value.
  • With the launch of its Mobile Solutions portfolio, Texas Trust CU's members will conduct secure financial business remotely through the use of a mobile phone (PRWeb July 19). The Texas Trust Mobile App is the first of many mobile banking services the credit union plans to launch within the next year. With the Texas Trust Mobile App, members of the $726 million asset Mansfield, Texas-based credit union can access account information, check account balances, transfer money between accounts, view their transaction history, and search for surcharge-free ATMs from just about anywhere, anytime, the credit union said.


News Now LiveWire
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
3 hours ago
RT @CUNA: DDoS attacks shorter, intense, more expensive: @VERISIGN HT @newsnowlivewire
3 hours ago
RT @CUNA: .@CUNACouncils launches new website. Offering site tours to current members. Check it out!
3 hours ago
.@Discover to support #ApplePay by fall HT @Forbes
5 hours ago
.@HUDgov requires investors to delay foreclosure for a year and offers a non-profit only pool sale
8 hours ago