Today is the “mobile first world”. What does that mean? WhY does “mobile first” matter to your branch? How do we keep up in a “mobile first world”?
These are all questions we will answer in this article on mobile, virtual and omni-channel
banking. Mobilization has changed the way we communication, purchase goods and
even bank. Today nearly every bank, credit union or financial institution offers a mobile
banking service or mobile banking app to keep up with customer demand for 24/7
accessibility and mobility.
Mobile Banking, Virtual Branch and Omni-Channel
Mobile Banking allows customers to access branch services from anywhere, anytime.
Virtual Branch Banking enables branch employees to deliver branch services to
customers from wherever they require service. Omni-Channel Banking bridges mobile
banking and virtual branch banking to deliver an omni-channel, ever-present experience
to both your customers and your employees.
Omni-channel Banking may seem like just the latest banking buzzword but has become
a necessity in the minds of your customers. Traditional branch hours and face-to- face
customer service aren’t serving today’s dynamic customers, such as the Millennial
generation and the shift working untraditional customers. Omni-Channeling Banking can
not only help you to expand your reach but also help you to reduce your costs.
Serving Millennials & Untraditional Customers
In 2016, studies indicated that nearly 70% of Millennials used mobile banking, with only
18% of people over the age of 60 adopting this new technology. Millennials are now the
largest age cohort in today’s workforce, likely making up the majority of your bank,
credit union or other financial institution’s customer base. These customers aren’t
interested in banking at a physical branch locations, preferring on-the- go access, 24/7.
In addition, branches have a growing concern with the customers that can’t make it to the bank during traditional working hours alienating these customers without service.
Give these growing challenges, Omni-Channel Banking becomes a necessity to enable
your branch to move into the future successfully.
Expanding Reach & Reducing Costs
When it comes to retail banking, Omni-Channel is the new normal. Your bank, credit
union or financial institution needs to be able to meet customer expectations, keep
them, onboard and deliver a seamless experience across several mobile devices, or risk
losing business. Not only does Omni-Channel Banking expand your branch reach and
customer reach, it improves customer loyalty by allowing customers to do their banking
on their own terms. In addition, Omni-Channel Banking is a serious business-focused
solution that will deliver bottom line benefits, while reducing costs to your physical
branch locations.
How to Deliver Omni-Channel Banking
Mobilearth wants to help your bank, credit union or other financial institution deliver a
seamless Omni-Channel Banking experience to your customers. Our suite of mobile apps
for banking include:
MobiConnect – Secure Encrypted Mobile Communications App
MobiConnect is a privatized and encrypted mobile communication application
that allows your employees to stay connected and access data on the go while
keeping your data secure. Mobile communication is becoming a necessity, but
using smartphones to communicate exposes you to considerable risks. If your
employees use Whatsapp, Facebook actually owns your confidential data. If your
employees use text messaging, wireless phone carriers actual have rights your
sensitive data. With MobiConnect, your data is safely hosted on your own server
or a privately hosted server.
MobiBranch – Virtual Branch Banking App
MobiBranch is a fully integrated, secure virtual branch application that expands
your branch’s digitally to reach a broader spectrum of customers while reducing
branch-operating costs by mobilizing your workforce. It provides the right
services to your customers on their own terms. Additionally, MobiBranch gives
your employees a secure way to bring all of your branch services to your
customers, allowing you to run your branch from anywhere, anytime.
MobiBank – Mobile Banking App
MobiBank provides highly demanded self-service eBanking, enabling your
customers to access branch services at their own convenience, 24/7. This means
customers can self-service to access new account, check account balances, pay
bills, view transaction history, sign customer contracts and more. Delivering more to your customer with mobile banking with MobiBank also greatly reduces
your costs by having less reliance on your physical branch and customer service
staff.
Together these three mobile banking apps deliver the full Omni-Channel Banking
experience your customers desire. To find out if Omni-Channel Banking is right for your
institution request a FREE Omni-Channel Banking Customer Experience Demo.
How to Deliver Omni-Channel Banking
Omni-channel banking isn’t going anywhere anytime soon. It’s only growing in
popularity, and failure to offer a full omni-channel mobile banking experience could
result in your bank, credit union or other financial institution losing business.
Mobilearth can support you in delivering Omni-Channel Banking to better support your
customers, expand your reach and reduce costs. Get your FREE Omni-Channel Banking
Customer Experience Demo from one of our Omni-Channel Banking specialists – click to
request your demo.
Questions about Omni-Channel Banking? Let’s get connected! Send us an email at
info@mobilearth.com.