According to Peter Kirk at Accenture, there was a 145% increase in the use of mobile banking apps from 2011 to 2014.
At present, 80% of consumers use online banking, and 43% do so daily. I’d guess this isn’t a surprise to anyone including my 73 year old father who still uses a flip phone and keeps all of his contacts in a worn black address book. Even he knows that online banking is the new norm!
Topics: Financial Institutions
Topics: Perks and Discounts, Loyalty
Embrace and amplify what you are (and don’t try to be what you’re not!)
As we head into 2015, community banks and credit unions are feeling increasingly crunched – with big banks on one side, and non-traditional players (like Google, Apple, PayPal, Wal-Mart, &Target) on the other. How can smaller financial institutions stand out from the goliaths? Be local; be the good guy; and be the opposite of big and behemoth.
Topics: Financial Institutions, Loyalty, Mobile
A three year-old fintech company has changed its business model to offer small and midsize banks location-based services — a mobile technology the biggest banks are only beginning to experiment with. The startup, Larky, offers software that lets financial institutions send consumers discounts and offers from local merchants as they're walking or driving by. Read the full story on American Banker | Bank Technology News.
Topics: Financial Institutions, Mobile, News
Loyalty programs for credit unions and their members have been around for decades. In recent years, instant cash-back discount programs have gained in popularity over traditional rewards cards or points accrual programs. But alas, all discount programs are not created equal! Here are eight questions to ask when evaluating merchant-funded discount schemes for your credit union. Read the full story on CU Insight.
Topics: Financial Institutions, Members, News
Topics: Financial Institutions, News
Consumers continue to struggle to make wise financial decisions, and they have the debt to prove it. Larky co-founder, Andrew Bank, explores the question, "why are good financial decisions so hard to make?" Read the full story on CU Insight
Topics: Financial Institutions, News
Asking two simple questions can help financial institutions add value to their user experience. Banks and credit unions that understand what a customer is doing three minutes before using a product or service and three minutes after gain a powerful advantage. Read the full story on The Financial Brand.
Topics: Financial Institutions, News