The ROI of Mobile Banking
Today, the general consensus is that mobile banking capabilities are table stakes for financial institutions. While it's certainly true that consumers are coming to expect mobile banking, it should not be regarded as just another cost of doing business. Mobile banking actually delivers a compelling return on investment.
Once a bank or credit union has the foundation of mobile banking in place, the addition of services like person-to-person payments and remote deposit capture can provide new revenue sources, as research indicates consumers will pay for such convenience-enhancing features. Mobile banking is also correlated to higher loyalty and other value-generating activities, such as increased debit card usage likely due to the consumers' ability to validate their current balance via their mobile device.
We published a white paper that details how banks and credit unions can move to the next level to achieve sustained ROI from mobile banking. You can also view the slideshow below for a visual summary of how to maximize ROI.