Increased digital spend leads to big gains in mobile deposits
The most recent digital banking metrics report by Cornerstone Advisors showed that while the adoption of mobile deposits has skyrocketed in recent years, digital account openings continue to lag.
During the past three years, spending on digital has tripled for banks and credit unions, but what are those FIs getting for their investment?
At the inaugural Tyfone Thought Leadership Forum in Las Vegas Wednesday, Ron Shevlin outlined the results from Cornerstone Advisors’ most recent digital banking metrics report.
Shevlin, the firm’s chief research officer, said the survey polled about 90 financial institutions, of which slightly more than half were credit unions.
Shevlin said most of those FIs surveyed fall between $500 million and $20 billion of assets with the average at about $3 billion to $4 billion.
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