Business Strategy: 2015 U.S. Consumer Channel Preference Survey — Mobile Banking Continues to Bolster Digital Platform, Yet Growth Remains Slower than Expected
This IDC Financial Insights report discusses the findings of our 2015 Consumer Channel Preference Survey of U.S. banking and credit union customers. Mobile banking continues its progression toward becoming the integral part of the consumers' interaction with their bank or credit union. However, despite all the attention of mobile banking, the reality is that the conveniences offered by mobile banking must continue to innovate as penetration rates continue to stagnate.IDC Financial Insights did not anticipate such an abrupt slowing of mobile adoption over the past few survey cycles. While online banking usage continues to mature and level off, unless there is a new hook, mobile banking may have also peaked."The industry needs to step back and determine the best course of action when it comes to mobile banking," according to Marc DeCastro, research director of Consumer Banking Engagement Strategies at IDC Financial Insights. "Engaging the customer during his/her self-service and employee-assisted transactions using the mobile device should become the base for the next-generation mobile offerings — whether it is used for authentication, transaction verification, or targeted offers. This will need to be handled carefully, utilizing the latest in big data and analytics to really pinpoint when this makes sense and does not appear to be overselling or inappropriate."
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