Mobile banking usage grew 34% in less than a decade according to research from Lombard, Ill.-based Raddon, a Fiserv Company. The study also recommends how to optimize the technology.
The report, "Raddon Research Insights: Grappling with Mobile Banking Engagement Issues," found that mobile banking usage grew from 7% of all consumers in 2010 to 41% of all consumers today. As the ubiquity of the service grows, differences in how consumers use the service become more important to a financial institution's overall strategy.
As mobile banking becomes more popular, the volume of consumer mobile banking usage is even more vital to a credit union's overall strategy as it helps to adjust their technology investment priorities to better correspond to the needs of the end user; and ensures they are delivering appropriate levels of service in the branch, at the ATM and online.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
