As smartphone popularity grows – and not just across Gen Y, but all generations – some experts say so does the demand for mobile banking functionality.
According to Callahan & Associates Inc., 34% of adults in the U.S. own a smartphone, and industry specialists agree mobile banking services have become critical to a financial institution's success.
While credit unions still fall behind the largest banks in mobile banking service offerings, the majority of credit unions are placing a high priority on smartphone applications, mobile Web banking and text banking, according to Aite Group Research Director Christine Barry. Advanced capabilities such as peer-to-peer and remote deposit capture are on the horizon.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
