Mobile banking

Many of the cultural changes instituted by Hisham Salama, one of American Banker’s 2020 digital bankers of the year, have led to a more agile tech team and higher customer satisfaction scores.

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

Often overlooked in narratives about essential workers, branch and call-center employees are responding to challenges posed by the COVID-19 crisis. They’ve processed emergency-relief loans late into the night, coached customers unfamiliar with mobile banking and made house calls to elderly account holders.

Industry giving is likely to decline in the wake of the pandemic, but it could force the movement to update its giving platforms.

Regional and midsize banks, which continue to trail the biggest banks in digital engagement, could attract younger consumers by reaching out with more advice about financial basics, according to J.D. Power.

Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

The trend to mobile is accelerating due to government stimulus checks, closed bank branches and the move to e-commerce, sayd Mitek's Michael Diamond.

The industry was already on a path toward increased digital services, but the global pandemic is showing why CUs need to speed up that process.

Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.

Limiting access to branches because of the pandemic has forced executives to re-examine whether they offer enough mobile and online services.