Those institutions investing beyond simply providing clients with access to regular banking activities via their mobile device, but aligning with the drive to make the process intuitive through well thought out app design are garnering increased usage of their apps. That said, the article outlines that mobile deposit is an indicator of the uptake of mobile banking activity.
Most studies of mobile banking usage continue to show high adoption of the balance inquiry feature with limited use of other mobile banking features. For instance, despite significant benefits to the consumer and financial institution alike, mobile deposit has experienced limited adoption — only four out of 10 banking customers have ever mobile deposit, and only 53% of those are highly active users.
Mercator Advisory Group agrees that there is still much work to be done by Financial Institutions in general to ease the transition for many to the benefits of mobile banking for the more mundane transactions. However, the article fails to point out the declining use of checks, and the corresponding declining need to deposit what amounts to fewer checks.
Overview by Joseph Walent, Associate Director, Customer Interaction Advisory Service at Mercator Advisory Group
Read the full story here