3 common myths that could be wrecking your mobile banking program
Financial marketers need to question the conventional wisdom about tech in general and mobile specifically. Case in point: Not every financial service may need a full-fledged mobile app. Newer technology can deliver the same experience without gorging consumers' device memory.
Consumers grow more open to managing their money from a mobile device, but financial marketers and their organizations need to advance carefully. This evolution presents an opportunity to reach customers in new settings, to build rich, omnichannel brand experiences and, ultimately, to open up a new avenue for sales. But potential hazards lurk along with the opportunities.
With these mobile opportunities come potential risks for banks and credit unions that many nonfinancial ecommerce players don’t face. A combination of strict regulation and consumer privacy concerns mean that financial marketers and brands must be extra cautious. But beyond this, several myths about mobile have to be abandoned before they chew up much time and money.
With that in mind, here are three of the most common myths that today’s financial marketers must leave behind if they are to succeed in their mobile approach.
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