Why credit unions need to venture beyond the ‘big 5′ of mobile banking with StrategyCorps’ Dave Defazio

with Mike Lawson

According to StrategyCorps Partner Dave DeFazio, there are five mobile banking “must haves” today:

  1. Mobile banking
  2. Mobile bill pay
  3. Mobile deposits
  4. ATM/branch locator
  5. P2P payments

If you have those, you are meeting the needs of today’s increasingly mobile consumer. If not, you better get on the stick. But, as we all know, the FI market continues to evolve at a breakneck pace and CUs must be ready for it. So we asked Dave what’s on the not-so-distant horizon when it comes to mobile services — venturing beyond the big five, if you will, that keeps your members happy and loyal to your credit union.

One of the items he discusses is integrating rewards with the transaction so the credit union, the member, and the retailer benefit in the process that fosters more activity and loyalty — which ultimately deepens the relationship. Dave mentions many other “beyond-the-transaction” possibilities that seem deliverable in the next few years — probably the next few months, and complements them with real-world examples. Check it out and let us know what you think about this peek into the future of banking. Pretty cool stuff CUs should consider.

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