The global race to “mobilize” banking is underway and leading banks are working furiously to shift toward a mobile-first approach.
Banks are already reaping significant cost savings by driving bad and avoidable customer interactions out of branches and call centers and into digital channels. But the benefits extend beyond cost: mobile channels are far more likely to delight and less likely to annoy customers than branches or call centers.
Banking customers are increasingly embracing mobile banking for their banking transactions. As a result, a mobile-first approach is a logical path for most financial institutions to take. As can be seen in the accompanying infographic, and from ongoing Mercator Advisory Group CustomerMonitor Survey Series results, mobile banking is a critical to future growth for FIs. Consequently, banks and credit unions that do not embrace a mobile banking strategy do so at their potential peril.
Overview by Ed O’Brien, Director, Banking Channels at Mercator Advisory Group
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