SAN DIEGO-Ted Bilke sees CUs continuing to leverage mobile banking in the second half of the year to keep a leg up on community banks.
Bilke, president of Symitar, pointed out that nine out of 10 credit unions offer a web-based mobile solution, compared with only three of 10 community banks.
Bilke finds it interesting how mobile banking has quickly advanced in consumer importance, saying it has now become the next generation of home banking. "We all had been looking for what would be the next generation of home banking-now we see that is mobile."
Bilke added that mobile, years ago, was first looked at as having low capability, used mainly for simple transactions like balance inquiry. "Now we are seeing very good integration with bill pay providers, remote deposit capture, alerts, messaging..."
Despite confidence in a strengthening economy, Bilke said CUs must brace for increasing compliance burden. "It won't be another 2010, but compliance demands will be significantly more than credit unions experienced in 2011 and 2012."
