News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Consumers want more from mobile banking apps
A national survey in the U.S. by customer interaction management firm Varolii Corporation reveals that consumer mobile banking expectations aren't being met by institutions using second generation applications.
Today, there's a mobile app for just about every activity, and banks have long been a provider of this technology for their increasingly on-the-go customers. However, when the Varolii Corporation surveyed 627 U.S. consumers they found that current banking app functionality is way behind what consumers today expect, particularly younger mobile users.
Most consumers surveyed believe banks need to be more proactive by providing personalized, real-time notifications of events that are about to impact their accounts, such as irregular account activity or bounced checks.
For example, Varolii's "Can you Bank on your Banking App?" study found that almost half (46%) of respondents want to be notified of a low account balance to avoid going overdrawn or embarrassing payment situations, or to be reminded about a bill that's due for payment (51%).
The younger a bank customer, the more likely they are to expect this kind of proactive service - 73% of 18-24 year olds versus 56% of those age 55 and over.
"We believe that most institutions are operating on second generation applications. Today, institutions need to upgrade to the next level by embedding more proactive, rules-based outreach into their application code," said David McCann, CEO at Varolii.
"It is also important to realize that smartphone apps are just one more channel that has to be orchestrated into a holistic customer experience across voice, text, email and mobile devices."
- Study: Mobile key for online grocery buys
- Job Seekers: How to get the next job
- Top 3 tips to improve travel loyalty programs
- New Realeyes' research links emotional response to sales impact
- Coalition for Better Ads releases new guidance to curb consumer annoyance with ads
- Instagram's focus on business tools attracts SMB advertisers
- Traditional external agency model failing to meet marketers' needs
- Few marketers intend to invest in marketing technology in 2017
Featured White Papers
- Learn Why 83% of Advertisers Are Reporting Superior Outcomes With People-Based Ads
Traditional digital display advertising doesn't work. The information in this report is based on an online survey of 350 senior...
- 2016 Email Marketing Metrics Benchmark Study
To build a world-class marketing program, it's crucial to compare yourself to the best performers - but competitor data can...
- 10 Ways to Use Customer Lifetime Value to Reinvent Your Marketing Strategy
CLV insights can help you to attract high-margin customers, target clusters of customers with untapped value, and retain high-value customers...
- 16 Innovative Loyalty Programs of 2016
Engaging customers in a loyalty program is no easy feat. Read how 16 brands grabbed headlines in 2016 by launching...