If your credit union is still dabbling or just tipping its metaphorical toes into the world of mobile, it’s time to dive in. With just a quick look at my Twitter newsfeed this morning I came across several articles and stats focused on the importance of mobile – mobile banking, mobile advertising and mobile data. Here’s a brief look:
- Mobile Banking
Digital security leader Gemalto released study results showing that (no surprise) young people love mobile banking. 77% of the young adults surveyed (ages 25-34) use online banking services with 42% using them five times or a month or more. And 27% never visit their branch in person anymore.
- Mobile Advertising
The number of smartphone and tablet users keeps increasing – and so does mobile advertising dollars. Net U.S. mobile advertising is expected to increase to $28.48 billion this year, according to eMarketer. Also, mobile search ads will be $12.85 billion by the end of the year, which is over 50% of the search market. Interestingly, Android users are more likely than iOS users to click on mobile app ads, according to a Kenshoo study.
- Mobile Data
A revealing way to gauge mobile usage is by reviewing data traffic. A Cisco Systems study found that mobile data traffic grew by 70% in 2014. Cisco projects that smart devise will increase their share of mobile connections by nearly 127% between 2014 and 2019.
Wondering what these statistics mean for your credit union?
- That your members don’t just want access to mobile banking – they require it.
- That if you’re not using your mobile app or site to cross-sell your credit union’s products and services, you’re missing a vital and growing opportunity.
- That mobile usage is only going up and now is the time to jump in with both feet before it’s too late!
CU Solutions Group can help your credit union with its mobile needs. Whether it’s a mobile app, mobile site or a comprehensive mobile banking app that offers cross-selling opportunities, we have what you need. Contact us today.