Ask a few small-business owners about their mobile banking needs and their wish lists may read like this: capture and store receipts, block stolen credit cards and schedule appointments with their credit union or bank.
Give them what they want and they won't mind paying for these services, according to the 2014 Monetizing Mobile Banking for Small Business Customers Study, which culled responses from 147 U.S.-based small businesses that generate up to $4.99 million in annual revenue. The respondents said monthly fees ranging from $1 to $10 for certain unlimited transactions would not be a financial burden.
When it came to the most advanced interactive mobile banking services, small businesses said receiving transaction verification and advanced warning, capturing and storing receipts and requesting for payment flexibility for loans, mortgages or credit cards were their top choices.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
