As banking goes digital, banks and credit unions have a chance to reinvent themselves. After all, you can be anyone online. — a fresh start.
by. John Siracusa
When it comes to branding, it is important to change with the times. And let’s face it: the face of business is changing. Long shopping lines are being replaced with instant transactions and one-click ordering. Face-to-face business transactions are being replaced by shopping cart checkouts and tap-to-pay purchases. Even legal signatures are obtained with nothing more than software that captures the printed name and date. The pace of technological innovation can be a bit overwhelming, especially for financial institutions whose very survival will depend upon their ability to keep their consumers feeling safe and secure.
But that’s what makes this such an exciting time in the banking industry. Every financial institution has the chance to shine. Stripped of the burdens associated with staffing a large brick-and-mortar network, even modest sized banks and credit unions can put their best face forward — via our websites, software, and digital tools.
Addressing the Mobile Market
A increasing number of financial consumers are mobile-centric, and that number will continue to climb. Roughly 75% of businesses now say they use online banking weekly. They are accessing their banks through apps and mobile devices, and they want their answers quickly. They go to their bank through their mobile devices for a number of reasons, such as:
- Obtaining their balance
- Transferring funds
- Making payments through Billpay or similar options
- Contributing to savings or investment plans
- Checking out new features