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."
- Why do online shoppers switch devices between research and purchase?
- Video ad budgets increasingly diversifying beyond pre-roll
- Reports: Mobile, deals important to shoppers
- Expert: How brands can use social data
- Study finds 2/3s purchase via mobile
- Consumers shun search engines for retail sites during product discovery
- Trust holding back sharing economy adoption
- Top tips to improve cash flow
Featured White Papers
- The Keys to a 'Stop 'em & Grab 'em' Landing Page
Follow these keys when developing your landing page, and in no time you will have all of the traffic and...