LEHIGH VALLEY, PA, JULY 24, 2012 —
Your Credit Union Needs To Go Mobile!
By 2015, one in five US adults will be using mobile banking.
Your competition is setting aside over one-third of their digital budget for mobile development.
Mobile Users need a better way to interact with you. (And you need to interact with them!)
Mobile Websites offer affordable technology that can be up and running quickly to meet demand.
Having a mobile website is likely to increase awareness of your credit union.
Banking In The Palm Of Your Hand
The term “mobile banking” has risen to the top of many credit union wish lists these days! A 2012 Federal Reserve Board survey found that one out of five Americans used a mobile phone to access a financial account within the last 12 months. Even more, 20% of consumers indicated that they would be likely to use mobile banking in the future. For consumers, mobile banking means two things: mobile applications and a mobile website.
Mobile websites are becoming a must-have for credit unions wanting to stay current in their efforts to communicate with their fastest growing membership base - those using hand held devises to access internet sites. Without a mobile site that is optimized for viewing on a smaller screen, it is more difficult to navigate a traditional website, perhaps signaling the credit union is not up to speed with technology.
Some credit unions are optimizing their entire site to work with mobile devices. Through Content Management Systems (CMS), it is easy to edit, add or remove pages efficiently to maintain relevancy and accuracy. However, a mobile version does not require a full conversion of your website to be effective. Offering your key contact information, plus rates, news, ATM locators, etc. are enough to be useful and can be up and running in less time. Adding a link to the full site helps push users to anything not found in the mobile site.
Mobile applications are becoming a necessary convenience service. Your members will be looking for applications to assist with their daily chores. While iPhones seem to be soaking up the limelight, there is a need for both iPhone and Android compatible applications. According to a 2012 Nielsen survey, Apple iOS (iPhone) market share is 43% versus a 48% market share for Android.
Mobile applications reach your existing members and provide a new remote channel for managing their finances. Whether it’s checking a balance or transferring funds, a mobile application will enhance your credit union’s convenience and appeal, especially to a younger target market. Most mobile banking users are between the ages of 18 and 29 – they are the future of your credit union!
The Wave Of The Future
While less than half of American consumers currently own a smart phone, their popularity is on the rise as new products and technologies emerge and price points drop. That makes mobile banking a critical element of your credit union’s service and delivery strategy for the future.
By the way, when was the last time you redesigned your website? If you can’t remember it’s probably time! MPI delivers award winning websites, and mobile websites, for credit unions.
Marketing Partners, Inc. is a full-service marketing and business development company specializing in credit unions. To find out more, please visit www.marketingpartners.com.
Published in CUinsight®