Credit unions: Your fate hangs on your mobile experience

first_imgMobile now plays a fundamental role in consumers’ lives. eMarketer estimates that customers spend nearly three hours per day on their mobile device — more than on their computers. Meanwhile, 47% of Millennials in an Annalect study noted that someone else’s following, liking, pinning, or tweeting info on social media had helped introduce them to a brand. In April 2015, Google announced that “Google Search will be expanding its use of mobile-friendliness as a ranking signal.”And yet the banking industry’s mobile capabilities lag far behind consumers’ expectations. Not only do financial institutions need to catch up, they must also worry about being able to deliver what customers will expect three to five years from now.How should banks use mobile to build relationships and increase sales? A report from Celent, commissioned by Facebook, says that banking providers who get it right will engage consumers more deeply, win a disproportionate share of customers, have greater success defending against fintech challengers, achieve better cross-sell rates, and improve customer satisfaction.Needless to say, the stakes are high.The report from Facebook and Celent focuses on how banks and credit unions can leverage mobile specifically as a relationship-building and sales tool. Dan Latimore, SVP of Banking at Celent and author of the report, says that well-designed mobile interactions simplify the user experience and minimize the effort required to enjoy it. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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