Mobile has become a fifth appendage, an extension essential to get through the day. That makes your bank’s approach to mobile a good gauge of your capability as an experience business, one focused squarely on customers and how to delight them. With phones in their pockets, consumers should be able to research, compare, apply for, transact, and engage with all your products and services in a simple, seamless, and occasionally surprising way.
Leaders in retail banking are no longer going mobile — they’ve gone. To satisfy customers, keep up with competitors, raise revenues, and ensure an always-on connection, you need to mobilize, too.
Let’s talk about customer satisfaction first. From January 2015 to November 2016, banking via mobile phone was up 54 percent, according to the Adobe “Mobile Maturity Study.” It’s the only device with a steady uptick in use for retail banking since 2014, as our graph shows. But by mobile, we do mean smartphone — and it’s clear looking at the chart that, for retail banking use, the phone line trends up strongly while the tablet line flattens. So much for having more real estate for complex banking products.