Eager to transact banking around the clock and around the world, consumers are adopting mobile phone and other Web-connected devices in record numbers. The Federal Reserve reports 1 in 5 customers of financial institutions are already using mobile banking services, and 1 by the end of 2013, roughly 43 percent of bank customers are expected to be using their smartphone for banking on the go.
Financial institutions are getting the message. FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today reinforced the rapidly growing interest in mobile, announcing that its client base for mobile has increased more than 150 percent year-over-year. That sharp rise reflects FIS’ recent launch of solutions for tablets, mobile wallet and business mobile.
FIS also said that adoption by bank users or consumers of its mobile offerings has climbed more than 200 percent year-over-year. Bank customers have enjoyed the convenience of using their smartphone cameras for check deposits, reflected in the more than $1 billion in deposits made with FIS’ client institutions since those clients made mobile banking services available to their customers.
Consider the experience of BMO Harris Bank, a leading FIS mobile-banking client. It introduced remote deposit capture and mobile banking services in 2012 to its U.S. customer base to support its strategic growth objectives. BMO Harris Bank says its partnership with FIS on mobile has sparked “fantastic” business results.“We have far exceeded our goals and customer delight is strong,” said Patrick Reetz, BMO Harris Bank’s head of U.S. Online and Mobile Banking, North American Integrated Channels. “Our customers love the remote deposit capture feature, and volumes are far ahead of our projections. Teaming with FIS on our mobile offerings will continue to help BMO Harris Bank exceed its customers’ expectations.” The FIS Mobile suite aligns with FIS’ strategic focus of delivering exceptional customer experience with the highest standards in security, enabling money to move seamlessly, to meet financial institutions’ and consumers’ growing mobile demand. FIS provides a strategic platform that delivers top-tier capabilities to its clients.