JUL 26, 2010

Efforts In Puerto Rico Paying Off

VERNON HILLS, Ill.-Baxter CU's efforts to push offline Puerto Rican members to mobile banking are spot on, according to recent research by Fiserv. Members who don't use Internet banking are costly to serve, said the research, "Mobile Banking Among Offline Consumers."

However, these offline members are likely to use mobile devices and may be persuaded to use mobile banking even if they don't use Internet banking, according to the research. Mobile banking transactions come at a lower cost than transactions through other channels, and mobile banking members may be more loyal than other members, Fiserv said.

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