Marketing Mobile Banking Can Double Average Adoption Rates, Shows Fiserv Analysis
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that an analysis of data from the
Mobiliti™ mobile banking and payments solution revealed that...
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that an analysis of data from the Mobiliti™ mobile banking and payments solution revealed that marketing can significantly impact consumer adoption of mobile financial services. According to the analysis, which looked at data across hundreds of financial institutions, banks and credit unions, financial institutions that have actively marketed mobile banking have experienced an average adoption rate that is twice as high as financial institutions that have not promoted the service. Within 12 to 18 months of launching Mobiliti from Fiserv, financial institutions that did not market the service saw average adoption of around 10 percent among eligible users, whereas financial institutions that have marketed the service have seen adoption rates over 20 percent, and in many cases exceeding 30 percent. Eligible user bases vary by financial institution, with some enabling mobile banking for all customers and others focusing on online banking users. Banks and credit unions using Mobiliti have access to Mobile Adoption Services from Fiserv to increase customer adoption and use of mobile banking, leading to a higher return on their mobile banking investment. These adoption services include consultation from mobile adoption experts who share best practices, access to an online database of customizable marketing materials such as emails, banner ads and counter cards and exclusive research and benchmarking data. Additionally, a Mobile Channel Value Calculator is provided exclusively to Mobiliti clients to help them understand quantified value of their mobile channel offering and assess their return on investment. Dickinson Financial Corporation (retail bank brands include: Armed Forces Bank, Armed Forces Bank of California, Academy Bank [Colorado], Academy Bank, a division of Armed Forces Bank, Southern Commerce Bank and Sun Bank) is among the Fiserv financial institution clients that have recently launched Mobiliti for their mobile banking platform.