Digital Banking – Innovating for New Customers
As consumer expectations increase, are you providing a seamless customer experience?
American Banker’s Digital Banking conference takes place next week in New Orleans and promises to cover ‘pressing industry challenges including trends and innovations in mobile banking’.1 As consumers rapidly shift to banking on mobile devices, this topic is top of mind for many of us in the industry. Banks are responding to this trend – over the past year we’ve seen notable improvements in design and functionality of mobile offerings at some of the largest banks, yet the majority of financial institutions do not offer consumers the option to open a new account using just their mobile device.2 While banks are offering more options for their mobile-centric users, they are missing opportunities to acquire new customers by requiring these consumers to visit the branch to complete their account opening. Our latest infographic created by Javelin, Seamless and Safe Digital Account Opening illustrates some of the challenges faced by banks and offers recommendations for supporting consumer adoption of digital channels.
According to Javelin, digital account opening is a critical tool for financial institutions seeking to attract profitable customers, deepen relationships with existing customers, and secure a position as their customers’ primary financial institution. Visit ID Analytics in booth # 211 at Digital Banking 2016 and ask about our solutions for simplifying the digital account opening process.
To learn more about consumer trends in digital banking and Javelin’s top recommendations for financial institutions, download the white paper, Making Digital Account Opening Simpler, Safer and Seamless.
Aaron Kline is the Vice President of Innovation and New Ventures at ID Analytics
1 Digital Banking 2016 http://www.americanbanker.com/conferences/digitalbanking/about.html
2 Marous, (2016 May 31) Largest (and Newest) Banks Set Standard for Mobile Banking Excellence. http://thefinancialbrand.com/59025/best-mobile-banking-apps-2016