The real ROI of mobile banking

first_imgMobile banking is valued as a way to better serve and engage members, yet credit unions may not realize the potential for solid mobile ROI for institutions that focus on driving adoption and usage.To quantify the tangible returns generated by mobile banking users, Fiserv, in conjunction with Raddon Financial Group, conducted a year-long study and evaluated data from more than 67,000 mobile banking users at eight credit unions and nine banks. Researchers looked specifically at the actions of mobile banking users three months before and three months after they started using the service.The study found specific returns on the mobile investment in the following areas:Increased product holdings. The average number of product holdings, including loans, certificates of deposit, credit cards and mortgages, increased after consumers’ adoption of mobile banking.Increased transaction frequency. In the three months after adoption of mobile banking, consumers in the study significantly increased both the number and value of their debit and credit card, ATM and ACH transactions. This is significant because many transactions generate revenue, such as interchange revenue from card transactions. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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