- Increased Customer Retention – According to CEB TowerGroup research, mobile banking customers are half as likely to leave when compared to online banking customers 1;
- Reduced Channel Costs – Mobile banking enables the migration of customers from high cost offline channels to the lower cost to serve mobile channel;
- Transaction Generation – Mobile banking use encourages value-generating activities such as increased debit card usage;
- Expanded Customer Base – Financial institutions can expand their customer bases simply by offering mobile banking.
- Greater Mobile Adoption – Adding new features increases adoption because customers find the service more useful, and enhanced functionality allows customers to shift interactions away from higher cost banking channels;
- New Revenue Sources – Financial institutions can generate new revenue streams through next generation mobile banking services including person-to-person (P2P) payments, remote deposit capture (RDC), merchant-funded offers and other cross-selling opportunities.
- “Next Generation Mobile Banking: Transactions Increase Potential Return on Investment,” white paper – www.fiserv.com/mobile-ROI
- “Breaking the Mobile Banking Glass Ceiling” white paper – www.fiserv.com/mobile-adoption