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Mobility Matters: Tracking the Mobile Banking Revolution in Credit Unions

Mobile for the underbanked, cost-saving RDC, securing the channel all covered in the latest Mobility Matters column by veteran tech reporter Robert McGarvey.

By Robert McGarvey | Updated on June 19, 2012

Mobile banking can snare the underbanked: Javelin research. The underbanked population is huge – about 35 million Americans, or 15% of the population – said Javelin researcher Mary Monahan in an interview but the pitch in her most recent report is twofold: Mobile banking may be the way to lure this group into a financial institution and, importantly, she insisted: “a financial institution definitely can make money on this cohort.”

She added; “They are young. Their prime earning years are in front of them” – which may mean they have many decades of profitability for the financial institution that offers them the services that persuade them to deeper the relationship.

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