Credit unions must provide technology solutions members expect
The number of internet-connected devices in the average person’s life has skyrocketed over the last several years as smartphones and tablets joined personal computers in most American homes. The proliferation of connected items presents a problem for credit union executives who need to allocate their organization’s resources. It is difficult to prioritize one device over the others, and historically low mobile banking rates made the value of investment in banking software for those devices uncertain.
“Consumers expect money management solutions that span all of their connected devices.”
This equation seems poised to change in 2015, and new data indicates consumers expect their credit unions and banks to provide money management solutions that span all of their connected devices. This information comes alongside data that demonstrates a wider interest in internet-connected banking software, and demonstrates a need for credit unions to invest in technologies that will strengthen every channel of their banking service.
Shifting expectations and demographics
In a study conducted by Carlisle & Gallagher Consulting Group, 55 percent of American respondents indicated mobile banking was a habitual part of their lives. That number is relatively high, and demonstrates strong demand for this type of service. It’s clear that the remaining 45 percent of participants are likely to increase their use of mobile banking services in the near future. Every respondent said they will acquire new mobile devices by 2016.
