Mobile Banking Grows, But Branches Don’t Give Up [TWIEB #39]
As Online Banking Acceptance Grows Is Mobile Banking Reaching the Tipping Point With Millenials? \ Jim Marous
A new survey by the American Bankers Association (ABA) found that for the fourth year in a row, consumers named the Internet as their favorite way of conducting banking business, with 39 percent of respondents saying it is the method they ‘use most often to manage (their) bank account(s).’ The second most popular way to bank – visiting a branch – continued its downward trend to 18 percent from 30 percent in 2008.
Consumers Readily Adopt New Mobile Banking Tools \ eMarketer
On-the-go consumers are turning more frequently to their devices to keep tabs on their money and conduct increasingly complex financial transactions—simply because they can. Mobile banking has been steadily evolving from an informational channel to one in which consumers conduct a variety of transactions.
Customers Want ‘Lighter, Not Fewer’ Branches \ American Banker
By adopting a “lighter, not fewer” approach to branches, banks can gain more flexibility and become nimbler in responding to customer challenges. At the same time, they can better position themselves to reduce the traditional fixed costs associated with the branch network.
Are Branches Dead? No Way, According To Performance Data \ The Financial Brand
A new study shows that credit unions that added branches vastly outperformed those that didn’t. And while the study doesn’t paint a clear cause-effect relationship between branch growth and bottom-line performance, the data is extremely compelling. Between 2007 and 2012, credit unions that had a net increase in the number of branches between 2007 and 2012, experienced greater increases in total assets, members, and loans originated per FTE.
For Consumers, ”Being Online” Is Becoming A Fluid Concept \ Forrester
Forrester analysis reveals that “being online” is becoming a fluid concept. Consumers no longer consider some of the online activities they perform to be activities related to “using the Internet.” The Internet has become such a normal part of their lives that consumers don’t register that they are using the Internet when they’re on Facebook, for example. It’s only when they are actively doing a specific task, like search, that they consider this to be time that they’re spending online.