mobile banking

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BID Newsletters
Feb 10, 2023
Financial customers remain wary of mobile apps, even as usage continues to grow. We discuss how CFIs can address consumer security concerns to help them feel comfortable using financial apps.
Oct 27, 2022
Mobile banking use increased dramatically during the pandemic and its growth is projected to continue for years to come. CFIs need to respond to the evolving mobile needs and wants of customers and small businesses. We cover current trends in mobile banking that customers are looking for.
Oct 11, 2022
How many features should a mobile banking app contain? According to one survey, the sky’s the limit — provided the app remains easy to use. We delve into the seven must-have features that customers are seeking, as well as five additional features to help your institution’s app stand out.
Sep 9, 2022
Pandemic shutdowns accelerated the adoption of self-service technologies. Now, more and more customers at CFIs expect such services in both digital channels and inside branches. We explore some of the most popular DIY technologies.
Aug 12, 2022
Community financial institutions (CFIs) can increase the engagement of both customers and employees through gamification — rewarding people for completing educational training or tasks via “games.” The results can significantly boost the bottom line as well. We take a look at some examples of gamification strategies CFIs are using to attract and engage new customers and employees.
May 10, 2022
Community financial institutions may not consider mobile ads when defining their advertising strategy. However, with the average American using their smartphones over four hours a day, you could have a captive audience for mobile advertising. We explore mobile ad spending, the types of mobile ads, and what kind of content to use.
Mar 15, 2022
Ninety-five percent of text messages are read within three minutes. With consumers’ reliance on texting, it is no wonder that the latest payment option, text-to-pay, is gaining momentum. It gives users the ability to pay through a link on a text easily and quickly. Let’s see why your small business customers may start finding it attractive.
Mar 7, 2022
It is not surprising that mobile fraud is surging, as the US has over 294MM smartphone users. Community financial institutions need to stay aware, meticulously authenticate customers’ identities, and communicate the latest scams to their customers to stay out of harm’s way. Here are three of the latest mobile phone scams and how to stay out of trouble.
Jan 13, 2022
What is the best way for bankers to communicate with their customers digitally? Given the option between web-based chat features and mobile messaging apps, 48% of consumers prefer mobile messaging. Not only that, but also Net Promoter Scores increase almost threefold for those companies that use mobile messaging. Here are seven reasons why customers want mobile messaging.
Dec 14, 2021
Digital banking is a must for community financial institutions, with nearly 65% of the US population using digital banking in 2021. Yet, bankers can find it challenging to balance continuous digital innovations with daily tasks. We provide you with four important steps to assist you in your digital banking efforts.
Nov 18, 2021
Proptech is starting to grow. Property management technologies are being used to help compensate for the labor shortage, create efficiencies in the leasing process, and identify and keep profitable tenants. Community financial institutions want to keep their eyes on proptech developments. Here are the drivers, tenant perks, and property owner benefits.
Jul 16, 2021
During the pandemic, many community financial institutions added digital account opening to service their customers for PPP and EIP. Yet, should you invest in digital account opening now that branches have opened up? We help to answer that question by explaining certain customer expectations around digital account opening, the lower incremental costs involved, and the developments of AI making this process more streamlined.
Jun 24, 2021
About 50% of people use at least two finance apps, according to Mambu worldwide research. So, how can community financial institutions keep their customers engaged with such a plethora of apps? Understanding app usage and what your customers are looking for in finance apps will put you on the right path to respond to the plethora of finance apps.
Jun 2, 2021
The pandemic caused many things — a coin shortage was one of them. The residual effects of this shortage are still felt even today. We update you on what the Fed is doing, why coins are still important (even in this increasingly cashless economy), who loses out in a cashless society, and how community financial institutions can help their small business customers adapt.
Feb 1, 2021
SIM swapping has increased sharply over the past years. In order to keep their customers safe, community financial institutions need to take proactive and preventative measures, including communicating with customers through two independent means on transactions, warning of red flags, and advising on safe social media usage.
Jan 11, 2021
Are mobile wallets worthwhile for community financial institutions? We show you how one of your peers succeeded through the power of recurring expenses and the use of data mining.
Dec 2, 2020
Many community financial institutions have entered the digital app game. We have six tips to keep the engagement going.
Oct 5, 2020
Mobile banking has surged. As that trend continues, cyber criminals stand ready to strike. We give you tips to fight back.
Jul 3, 2020
Many children are stuck at home this summer, as camps have closed and summer plans have been canceled. This might be a good time for financial literacy programs for our youth and your future customers.
Jan 10, 2020
Community financial institutions are now getting in on the mobile wallet phenomenon, as more customers demand this service. Is it time for you too?
Nov 8, 2019
Even as branches are closing in rural areas, there are ways to support these customers and increase business.
Oct 21, 2019
App features can either greatly satisfy customers or turn them off. We provide you with some considerations to make yours happy.
Oct 3, 2019
We provide answers to our readers' questions on mobile banking, diversity and cloud technology.
Sep 13, 2019
Today, 40% of customers say they would prefer video for doing at least one financial activity, according to Forrester. We review how some institutions are using video to keep these customer happy.
Aug 27, 2019
Seventy percent of community banks with assets between $500mm and $1B now offer online checking account opening capabilities. Digital transformation is well underway in banking.
May 28, 2019
Eighty-eight percent of community banks offer mobile banking. Yet, there are some banks that are new to this offering. We have some pointers to help.
Jul 19, 2019
5G is supposed to be 100x faster than 4G. So how can your bank leverage the power, speed and capabilities of 5G to enhance customer service and operations?
May 7, 2019
Digital tools have been widely accepted and used by consumers. Are business customers seeing any benefits?
May 21, 2018
According to Bankrate, 63% of Americans now have at least one financial app on their smartphones. But, are they happy? How to keep your digital customers satisfied.
Apr 30, 2018
As mobile use continues to rise, banks can get creative with mobile applications - recruitment, benefits and mobile lending are a few areas we address.
May 10, 2019
For many consumers -- millennials in particular -- setting aside large sums of money to meet savings goals can be tricky. One savings app is taking a new approach and community banks should be aware.
Dec 14, 2018
According to an FDIC survey, 40% of banked households used mobile banking in 2017. We provide more digital banking highlights to help you stay on top of this competitive area.
Dec 12, 2018
Is fintech assistance on the way for community banks? It appears so.
Nov 23, 2018
Despite the rising popularity of finance apps, most people who use them have concerns about data privacy. How to educate your customers on the privacy risks.
Nov 16, 2018
Tokenization is a fairly new word for bankers. But, with the velocity of digital commerce and real-time payments, it is important to understand.
Oct 10, 2018
Digital wallets, where cryptocurrency sits, and the exchanges on which they can be traded, present vulnerabilities that have already publicly been exploited. What can your bank do to stay safe?
Sep 25, 2018
Mobile and branch channels can work together for bank efficiency and customer engagement. We provide some tips on how to do this.
Aug 28, 2018
A majority of mobile app users expect to be asked for feedback. We look at why this is important and the best ways to do it.
Aug 16, 2018
The percentage of banking customers who used mobile apps to pay bills jumped by 30% in 2017 vs. 2016. We discuss some of the ways community banks can compete with bill pay services.
Aug 9, 2018
The worldwide enterprise wearables market was $3.2B in 2016. Community banks will not be able to totally ignore this technology. What are the developments and how can community banks play in this market?
Jul 11, 2018
Eighty-four percent of customers agreed to take part in a video banking session when they were invited. What more should community bankers know about video banking?
Jun 21, 2018
Google is in the process of enabling consumers to execute P2P transactions through its Google Assistant. What to expect in the next few months, when it goes live.
Jun 7, 2018
It may seem as if P2P payments, such as Zelle, will soon be the new standard payment method in the US. Bankers should note this is not the case, but it cannot be ignored either.
Jun 6, 2018
Mobile geolocation is now being used in the financial industry. But, according to Cornerstone Advisors, banks need to do it right to keep customers happy.
May 8, 2018
Some banks are making other applications available through their bank app to add value and bring in more customers. What you should know before jumping in.
Dec 15, 2017
Mobile wallets have been all the rage. But, are they still? What a new study reports which could be important for your bank.
Nov 8, 2017
Person-to-person payments are hot with small and midsized businesses. A new study gives bankers more insight.