In the world of online banking, has everything gone mobile?

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As our daily lives become increasingly dependent on smartphones, we have to ask ourselves, “Is there value in having desktop banking as part of your strategic product development planning?” The answer is not easy. Here, we address some key issues surrounding mobile versus desktop as it relates to credit union internet banking.

Demand for mobile use increases, while desktop slows down. In 2015, Google announced that “more Google searches take place on mobile devices than on computers in 10 countries, including the United States and Japan.” There is no doubt that the trend has continued. However, there is a place for both platforms. The numbers indicate that while you’re more likely to check the weather from your phone, you’re also more likely to shop online using your desktop computer. Credit unions should have a responsive (mobile-friendly) website that members can access on the go, especially for information such as branch locations, routing number and hours of operation.

Mobile banking services are increasing in availability and popularity. There has been a huge growth in mobile banking for activities such as balance enquiries, transfers, mobile payments and remote check deposit. Young members of credit unions will find these options indispensable and will likely only use a financial institution that offers them. However, for older members, mobile banking can seem dangerous, and entering information into small fields on a phone can be difficult. This highlights the need for a dual strategy, as individual preferences determine the use of mobile and/or desktop banking.

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