10 Apr Mobile Banking & Marketing
Tom and I have sat through hundreds of hours with credit unions from across the nation talking about the “mobile explosion”. Needless to say, some credit unions get “Mobile Banking and Marketing” and some don’t. It goes without saying that mobile banking transactions are the key focus when credit unions consider a mobile app. When you look at apps in the app stores you will find literally thousands of apps that you can use in your daily life; diet apps, games, newspapers, magazines, cookbooks and more. When it comes to a credit union app, it should be more than just “mobile banking”. As an avid iPhone and iPad user, I can launch my Safari Browser and login to mobile banking at my credit union. Sure, I can check my balance, transfer funds, and pay a bill. Our team at CU Mobile Apps wanted to combine a mobile banking app experience that provided more than just “banking”… we wanted both!
Our app features allow members to apply for loans, read about credit union specials and promotions, watch videos from within the app, use QR code technology, receive in app push notifications and much more! Surely if I walked into a credit union branch I could do more than just “banking”. Wouldn’t that include applying for a loan, maybe talking to an investment rep and learning more about what credit union products and services are available? With a mobile app that just focuses on “banking”, that is not truly putting a credit union branch in every member’s hand. At CU Mobile Apps, our app truly provides more than just banking. Our app will generate revenue for the credit union!
I talked to a friend of mine last month that happens to be the CEO of a large credit union and he said he is tired of paying his mobile banking provider $30,000.00 a month! Core processor’s love focusing on “mobile banking only” apps… and now I know why!!! They simply don’t get paid for “Marketing”!!!