Most people who have a smartphone utilize it for more than just phone calls.
And while social media and texting remain two of the most-used applications for personal business, there is one type of app that follows those concerning popularity among smartphone users. The application type? The simple banking app. Smartphone users have unique needs, and the need for communication that works with busy lives drives the necessity for all three of these popular applications. A recent look into banking apps by Tina Orem of Credit Union Times delves into the complexities of mobile banking.
How Banking Apps Save Time
Local banking branches have their uses in society, but a visit to a local financial institution can cost up to 45 minutes of a customer’s time a week, studies show. Because a growing number of banking customers are mobile users, the way that they structure their daily lives is often dependent upon their mobile devices. The introduction of mobile banking apps has been a result of careful observation of this growing customer base and their needs.
As many as 36% of surveyed customers noted using their mobile banking apps at work, indicating that they do not have the time to spare to call into a banking number or wait at a branch for assistance. Messaging platforms, like Elle, take time constraints among mobile banking customers and work that into their long-term digital strategies.
The Benefits of Mobile Banking Apps
The upside of increased mobile banking app usage, however, is that customer satisfaction rates among banks and credit unions have skyrocketed. The address of customer needs through technology upgrades will continue to drive the success of companies, and financial institutions must continually reconsider this.