17 May Mobility Adoption
Nearly 120 Million consumers are predicted to own and embrace mobile tablets by the end of 2013 and they are most likely expecting their financial institutions to deliver them a robust and state of the art mobile app! In just five years, mobility has completely changed the way members interact with their credit unions. With mobile banking, remote deposit capture (RDC), bill pay etc., the demand for members to physically go to a brick and mortar location has just about been eliminated. Everything is now conducted via their mobile phone or tablet.
More than 27% of credit unions offered mobile banking as of the fourth quarter of 2012 and that figure is escalating daily. As a matter of fact, according to Callahan & Associates Technology Priorities Survey credit unions identified mobile (mobile banking, remote deposit capture, etc.) as being their biggest initiative for 2013. 44% plan to upgrade their existing application and 56% plan to introduce their members to a new one this year. 64% reported that they plan to add a mobile RDC platform this year. According to Pew Research, a reported 29% of cell phone owners use their device to access some form of on line banking and 45% of them own a smartphone device.
What is all of this really telling us? It’s a given fact that mobility is here to stay and your members are currently searching for your app in the iTunes, Google Play or Amazon Marketplaces. Question: will they find you? If so, does it provide them with a robust user experience? If not, how long are you going to make them wait? Now is the time to consider developing a new or upgrading your existing app for your members. Contact Us today to find out just how easy and affordable this process is.