Member Service Experience for Mobile Banking Apps
The Federal Reserve Board’s Survey of Household Economics and Decisionmaking (SHED) from 2017 revealed that about half of U.S. adults with bank accounts had used a smartphone to access those accounts during the previous year. In 2019, eMarketer predicts that nearly 120 million smartphone users in the U.S. will use their bank’s mobile app at least once per month for transactions. And Citi’s 2018 Mobile Banking Study found that mobile banking apps ranked third in most-used (at 31 percent measured by top two ranked responses), behind only social media apps (at 55 percent) and weather apps (at 33 percent).
These findings leave no doubt: Even traditional industries or sectors like banking are heavily digitizi...