3 Steps to Sharpen Your Competitive Edge in Banking

How can your financial institution stay competitive when digital banks are being
introduced into the market everyday and customers’ 24/7 demands are compiling?

Sharpen Your Competitive Edge by Marrying the Mobile Bank & Virtual Branch

Banks and credit unions struggle to establish and maintain a competitive advantage in
today’s accelerated financial marketplace. New digital banks are being introduced every
day and customer demand for more resources, available 24/7, is suffocating. How can
your financial institution stay ahead in an industry that is continuously innovating?
Simple. Follow these steps to the smart transformation competitive edge you are
searching for:

Mobile Bank & Virtual Branch

Mobile Bank & Virtual Branch

 

Step 1: Mobile Banking

Mobile banking is the first step to mobilizing your branch and empowering your
customers and employees. Mobile banking delivers the self-service eBanking customers
demand with access to branch services at any time, from anywhere. Customers living in
the mobile-first age want to be able to do their banking on their own schedule,
regardless of branch hours. Mobile banking also caters to the non-9 to 5 clients that
aren’t able to adapt to traditional banking hours as well as tech-savvy Millennials.

Mobile Banking

Mobile Banking

Not only is mobile banking a good means to satisfy customer demand, it also reduces
operational costs as there is less reliance on your physical branch and customer service
staff.

Mobilearth’s mobile banking solution, MobiBank, makes traditional branch services
available at your customers’ fingertips (literally), by allowing them to do their banking
via their mobile device or computer.

 

Step 2: Virtual Branch Banking

The virtual branch is how you really break free from location, branch hours and resource
constraints. You’re opening yourself to the opportunity of offering banking to those
formerly out of reach customers who can’t make it to the branch during regular
business hours (i.e. shift workers, trade workers, etc.), or those who simply aren’t
interested in going to the bank (i.e. Millennials). With a virtual branch, you can meet
your customers wherever they may be by bringing the bank to them. This allows you to
provide your normal banking services to all of your customers without alienating the
non-traditional customers.

Virtual Branch Banking

Virtual Branch Banking

MobiBranch by Mobilearth mobilizes your workforce, allowing them to securely deliver
all branch services to your customers using a tablet or smartphone, as well as letting you
run your bank from anywhere.

Stay on top of the latest digital baking trends.


Step 3: Marry Mobile Banking and The Virtual Branch

Offering a mobile banking solution or having a virtual branch are great ways to stay
competitive. However, to truly hold the competitive advantage you must marry the
mobile bank and the virtual branch.

Mobile Banking and The Virtual Branch

Mobile Banking and The Virtual Branch


See Mobile Banking with the Virtual Branch in action!

Marrying mobile banking and virtual branch banking completely personalizes the
banking experience for your customers. It allows them to accomplish their banking tasks
in a way that’s convenient for them. The easier you make it for your customers to get
their banking done, the more loyal they will be to your branch and the more banking
they will do with you. Ultimately, marrying the mobile bank and virtual branch will
improve your customer retention and acquisition.

The only way to stay competitive in the digital banking age is by marrying your mobile
banking solution and virtual branch banking. With MobiBank and MobiBranch, you can
easily combine the two to offer banking services at your customer’s fingertips, and
deliver your services to anyone, anywhere. To see MobiBank and MobiBranch in action,
request a LIVE Smart Banking Transformation Demo.

Still have questions about gaining a competitive edge in retail banking? Please comment below or email us at gomobile@mobilearth.com.