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
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
43 minutes ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
1 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
3 hours ago
IBEW Local 816 FCU closes.The Paducah, Ky., $6.3 million-asset #creditunion served 929.It's the 6th federally insured CU liquidation of 2014
3 hours ago
.@BankOnOregon recruiting #creditunions for underbanked project via @NWCUA http://t.co/j6MgHbe9F8
4 hours ago