Comments

  1. It’s interesting that there is still such a strong focus on “Apps” in the mobile discussion. In a recent presentation, an Executive from Fidelity highlighted the obvious – new-to-bank customers don’t want to install an “app” to apply for a loan, credit card or open an account. They just want a good mobile experience. Sure…once I’m a customer, the app is essential.

    We’ve recently worked with a bank on their personal loan application process – it’s a responsive and adaptive design, so it’s great on any device…but 51% of their applications come from Smartphones. And when we focused on optimizing the adaptive experience for the small screen they went from a 34% completion rate to 49.5%.

    Mobile for customer acquisition is a huge untapped market.
    More here… https://www.linkedin.com/pulse/article/20140822045102-4043325-51-of-personal-loan-applications-from-a-smartphone

  2. Jim Marous Jim Marous says:

    Thanks for your sharing of your app solution. I hope more organizations will look beyond the basics and build partnerships with solution providers that can help the customer experience.

  3. Scott MacGregor says:

    It’s interesting that Budgeting and Expense Categorization are so far down the “to do” list for banks. We recently published a case study (bit.ly/1Arvdvh) that looked at the mobile banking experience that digitally native customers want from their banks and this was one of the greatest areas of opportunity.

    Banks need to understand that the mobile banking experience they offer, whether through their app or web, is the main and sometimes only touchpoint they’ll have with millennials, and the wave of digitally native customers that follow them. The level to which this experience improves their financial well-being will determine the strength of that relationship. Investing in only the basics won’t cut it with future customers.

  4. And changing banks or credit unions has never been easier. As quick as a click.

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