PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Mobile Banking Trends for 2019: Looking for Value

By Karen Augustine
January 15, 2019
in Analysts Coverage, Credit, Debit, Mobile Banking
0
7
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
mobile banking trends

mobile banking trends

BAI recently published a list of top 10 mobile banking trends that experts see coming or growing in 2019. Mobile banking is certainly taking off, especially in light of recent branch closings. Yet, experts predict that consumers are looking for more value in their mobile banking apps, with more functionality such as cardless ATM access, easier authentication processes using biometrics, more personalization using machine learning and customer data to provide financial advice, with some human or human-like intervention, either by voice activation or with human connections when necessary to remote locations. Consumers rely more and more on their mobile devices to manage their lives, but are looking for enhanced security yet easier user interfaces that recognize our past behavior and relationships and provide more than just account management. Mobile banking providers need to more than just providers, but act as more of a financial partner, providing greater convenience, functionality and advice. Otherwise, consumers are willing to go to non-traditional providers for deposit accounts and payment tools who provide that value.

“Using technology to create more meaningful and deeper connections with customers will drive mobile banking strategies for years to come. Innovative digital solutions, data and analytics, and a customer-first approach will enable banks to build closer human connections and solve financial problems.”

Mercator’s CustomerMonitor Survey Series sees rapid growth of mobile banking, and our latest Channels survey conducted in November of 2018 finds that half of consumers with accounts at financial institutions have used a mobile banking app on their smartphone within the previous year, steadily growing over the past five years. Consumers are using mobile devices to manage their accounts, pay bills, transfer money and make other banking transactions. Voice-activated banking is also on the rise, but satisfaction with current methods is low, as integration needs improvement. Most consumers adhere to some type of a budget. Especially in a time of stock market volatility and turbulence, consumers seek advice and support for wealth management, savings and improving their financial health. They need a provider that fits in their lifestyle, knows them and can act as a partner to provide value in their terms.

Overview by Karen Augustine, Manager, Primary Data Services at Mercator Advisory Group

7
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: BAIMobile Banking

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Proof That Fintechs Are Disrupting Banks:

    In Today’s Fintech Market, Value Is Everything

    August 30, 2024
    DFAST test

    Dodd-Frank Stress Tests: Good News for Now, Watch for a Rugged 2025

    August 29, 2024
    Real-Time Payments Adoption in the U.S. Requires a Pragmatic Approach, ISO 20022 messaging challenges

    ISO 20022 Brings the Challenge of Standardization to Swift Participants

    August 28, 2024
    open banking small banks credit unions

    Open Banking Can Be an Equalizer for Small Banks and Credit Unions

    August 27, 2024
    Payments 3.0

    Achieving Seamless and Holistic Transactions with Payments 3.0

    August 26, 2024
    embedded finance, ecommerce, consumers reduce spending

    Quality Over Quantity: Key Priorities in the Payment Experience

    August 23, 2024
    bots fraud

    Next-Generation Bots Pose Formidable Fraud Challenge

    August 22, 2024
    crypto custodians

    Crypto Custodians Could Bring a Revolution in Holding Assets

    August 21, 2024

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Digital Assets & Crypto
    • Debit
    • Digital Banking
    Menu
    • Commercial
    • Credit
    • Digital Assets & Crypto
    • Debit
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    Menu
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    Menu
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result