Marketing Mobile Banking Can Double Average Adoption Rates, Shows Fiserv Analysis
Banks and credit unions that have actively promoted mobile banking are
"seeing double" compared to those without focused campaigns
Mobile Adoption Services from Fiserv can help establish mobile banking
relationships and increase adoption of mobile financial services
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that an analysis of data from the
Mobiliti™ mobile banking and payments solution revealed that marketing
can significantly impact consumer adoption of mobile financial services.
According to the analysis, which looked at data across hundreds of
financial institutions, banks and credit unions, financial institutions
that have actively marketed mobile banking have experienced an average
adoption rate that is twice as high as financial institutions that have
not promoted the service.
Within 12 to 18 months of launching Mobiliti from Fiserv, financial
institutions that did not market the service saw average adoption of
around 10 percent among eligible users, whereas financial institutions
that have marketed the service have seen adoption rates over 20 percent,
and in many cases exceeding 30 percent. Eligible user bases vary by
financial institution, with some enabling mobile banking for all
customers and others focusing on online banking users.
Banks and credit unions using Mobiliti have access to Mobile Adoption
Services from Fiserv to increase customer adoption and use of mobile
banking, leading to a higher return on their mobile banking investment.
These adoption services include consultation from mobile adoption
experts who share best practices, access to an online database of
customizable marketing materials such as emails, banner ads and counter
cards and exclusive research and benchmarking data. Additionally, a
Mobile Channel Value Calculator is provided exclusively to Mobiliti
clients to help them understand quantified value of their mobile channel
offering and assess their return on investment.
Dickinson Financial Corporation (retail bank brands include: Armed
Forces Bank, Armed Forces Bank of California, Academy Bank [Colorado],
Academy Bank, a division of Armed Forces Bank, Southern Commerce Bank
and Sun Bank) is among the Fiserv financial institution clients that
have recently launched Mobiliti for their mobile banking platform.
"The commitment from Fiserv to not only deliver an innovative mobile
solution, but also provide the expertise to help us promote it to our
customers was one of the reasons we chose them as our mobile solutions
provider," said Scott Jashinski, senior vice president and retail
products manager, Dickinson Financial Corporation. "The guidance and
marketing materials they provided were the foundation from which we
built our successful adoption campaign. To date, we have exceeded our
initial adoption estimates for mobile check capture and bill payment
"The focus of marketing mobile banking should be on educating customers
— if customers understand how they can benefit from the service and how
to get started, the convenience will compel them to extend the
relationship with their financial institution to their favorite
devices," said Steve Shaw, vice president, Strategic Marketing, Digital
Channels and Electronic Payments, Fiserv. "Mobile Adoption Services from
Fiserv provide our clients with the insights and tools to grow usage of
mobile banking across all customer segments."
Mobiliti supports mobile banking and payments for hundreds of financial
institutions and millions of consumers. It is available in multiple,
distinct versions tailored for use by financial institutions of varying
sizes. Mobiliti supports all three major mobile access modes: SMS (text
messaging), mobile browser and downloadable applications for Android™
Financial institutions offering Mobiliti can learn more about Mobile
Adoption Services by contacting Fiserv at firstname.lastname@example.org.
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry, driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.
Director, Public Relations
Director, Public Relations
Source: Fiserv, Inc.
News Provided by Acquire Media
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