1. Make it easy to move money via payments and transfers. According to Javelin Strategy & Research, nearly 63 million Americans made $95 billion in bill payments via mobile devices in 2014. The capability to send or transfer money (through P2P-like services) also plays an increasingly important role among Millennials. But, 73% of them, according to the Millennial Disruption Index, would be more excited about a new financial services offering from Google, Amazon, Apple, Square or PayPal than their own financial institution. Ouch!

2. Give members the flexibility to use any channel at any time. An omnipresent, omnichannel hunger among consumers appears to be pretty robust. The Economist suggested omnichannel is a strategy that allows consumers to “shop with smartphones, tablets, laptops and even in stores as if waited upon by a single salesman with an unfailing memory and uncanny intuition about their preferences.”

3. Leverage smartphone capabilities. According to a Federal Reserve report, “Consumers and Mobile Financial Services 2015,” consumers who use mobile banking are also becoming more comfortable with remote deposit capture – electronically depositing a check to a banking account using a mobile phone camera. The survey said more than half of mobile banking users had used their mobile phones to deposit checks in 2014, compared to 38 percent in 2013. Remote Payment Capture (RPC), the ability to remotely capture, clear and post a payment transaction, is another emerging part of the overall remote capture market.

4. Go beyond the password with authentication. In just the last year, biometrics has virtually exploded as a secure method for authentication in digital banking. Touch ID, Apple's biometric verification tool, was introduced with the iPhone 5S as a security device. Users can press their fingerprint on the home button on their iPhone to unlock it, verify their identity, or make purchases via Apple Pay. According to a Deloitte report, 72% of consumers would appreciate the use of biometric identification (such as fingerprints or iris recognition) as a means of device authentication during financial services transactions.

5. Be mobile friendly. Google announced last week that its mobile searches will label sites as mobile-friendly, plus, mobile-friendliness will be used as a determining factor in site ranking results. Google said it is making these changes mainly to offer a better mobile experience for searchers, and to give people what they really want. As mobile Internet access grows, and the mobile banking competition intensifies, the formula used to determine a page's ranking must be adjusted to accommodate these usage patterns.