Comments on: Mobile Banking Set To Explode, Here’s What Marketers Need to Know

By: Veille Web & Mobile – 29/4/2012 | b3b

Veille Web & Mobile – 29/4/2012 | b3b — Fri, 10 Aug 2012 05:33:59 +0000

[...] Mobile Banking Set To Explode, Here’s What Marketers Need to Know [...]

By: Margaux Panlilio

Margaux Panlilio — Thu, 26 Apr 2012 22:45:39 +0000

Mobile payment is the most convinient way for consumers to make payments and at the same time small businesses to accept them, we are currently in the “Smart Mobile Age” and everyone has a smart phone. Out of all the mobile payment platform, mobile POS is the most current (Square, http://www.mpowa.com, PayPal here, ZenPay).

By: Bonnie

Bonnie — Tue, 24 Apr 2012 17:53:14 +0000

Pew Internet also published some mobile stats that might be of interest:
—88% of U.S. adults have a cell phone
—46% of U.S. adults have a smartphone (as of Feb. 2012)
—44% of U.S. adult cell phone owners use their cell phones to access the Internet
—87% of the smartphone owners use their smartphones to access the Internet (and it’s 94% for smartphone owners ages 18-29)

Here’s the link to the Pew research:
http://pewinternet.org/Commentary/2012/February/Pew-Internet-Mobile.aspx

By: Editor

Editor — Tue, 24 Apr 2012 16:36:02 +0000

Monica, you make excellent points about improving the online banking experience so that less technical support is needed in the first place — simplify and make it more intuitive. You’re absolutely right: let’s keep our priorities straight.

However, online banking systems at most financial institutions are usually developed by a vendor, often adjunct to the core data platform. For those with the technical chops and bandwidth to tackle the backend of online banking systems, they should dive in. But the small guys are largely going to be helpless bystanders, subject to the OB system their FI chose and could afford. For most financial marketers, they are saddled with whatever system their bank/CU has. If you’ve got a system that’s easier than others, it’s a good idea to toot your horn. If you have better support, market that. If you don’t have tutorials and how-tos yet (interactive online guides, videos, etc.), you should think about starting that project.

But yes, your advice is spot on. With all things — not just online banking interfaces and tutorials — financial institutions should be looking for ways to simplify the banking experience.

By: Monica

Monica — Tue, 24 Apr 2012 15:51:25 +0000

I do see the need for marketing electronic channels more deeply, but my question is, where do banks/credit unions draw the line of being the technical support company as well?

If you’re a smaller organization, not everyone may be comfortable using the product, let alone even have a smartphone to practice on. If you’re going to offer technical products, you should have something tangible staff can train on.

I think a more simple navigation plus extra staff training are more critical than offering “technical assistance” per say. Otherwise, customers and members may bring all of their technical issues to you… regardless of if it has to do with your mobile banking, remote deposit capture or website.

I do agree that having something saying how to download the application or a good step by step sign up explanation is needed.