THE STATE OF THE INDUSTRY
Consumers drive technological advancement in the banking industry and in the past 18 months they have driven the top US banks to offer complete mobile programs with a variety of services to meet the needs of this on-the-go audience.
The evolution of banking tools began with the ability to receive a text message to your feature phone with your balance information. Since, we’ve seen tremendous expansion as mobile solutions have evolved to encompass features like visual check capture, debit card deactivation, person to person payments and have even begun expansion to include offers in the past month. As the teller lines get shorter at the brick and mortar locations, this broad feature list has become an element of attraction and retention of consumers for banking institutions.
Additionally, as the leaders pave the way, regional banks and credit unions observe and mimic solutions that prove successful.