The good news: There’s an app for that.
The bad news: it’s probably not yours.
The proliferation of financial apps meant to make consumers’ lives easier continues, from Mint and Venmo to Acorns and Budget Boss. And in many cases, even when the app isn’t a credit union’s own app, it still requires some sort of interface with the member’s account, so theoretically, it could still wind up being a touchpoint a credit union can benefit from.
But that’s not always the way it goes. Such apps can instead put more and more distance between the credit union and its members.
What’s more, the growth of more apps for everything from the one you can use to blow out candles on your birthday cake (no, I’m not making this up), to the Doorman app that ensures you never miss a package delivery, makes it entirely too easy to get lost in the shuffle.
How do you make sure your app gets a coveted home page position on your member’s smartphone, and not backed into a folder somewhere on that third swipe screen?
Step one is knowing what features your members expect, which ones they want and which ones they need. And make no mistake, those three things don’t always intersect.
In this edition’s special report, Credit Union Journal asked experts to share which features are the most- and least-used mobile banking options, as well as which new apps coming out are most likely to become “must haves.”
But don’t stop there. Take a deep dive into your own mobile banking data to see what your members are up to. There’s digital gold in there, if you know how to look.
