Mobile banking has become increasingly popular with consumers due to its convenience, so how can banks improve their mobile banking services to better serve their customers in their moments of need?
Following our 2016 Global Mobile Banking Functionality Benchmark of 46 banks globally, Forrester released two new reports detailing how banks can go beyond enabling basic mobile transactions to turn mobile banking into a platform for customer engagement:
- Brief: Banks Are Missing Mobile Banking’s Three Big Opportunities. While most banks say they are customer-centric, many have not tapped into the opportunity to become their customers’ personal financial assistants: They fail to help consumers understand their finances and do not provide personalized financial advice or relevant services. This brief details how mobile banking apps can evolve into engagement platforms that enable customers to better understand and plan their finances, enjoy cost savings, and get the help they need.
- Eleven Mobile Features That More Banks Should Offer. This report identifies 11 of the best mobile banking features that would offer consumers more timely, relevant, and contextual information. Some of these useful features include advice and “nudges” to enrich money management; consolidated views of all upcoming transactions, including predicted future actions; travel notifications for cards and accounts; and one-click fraud reporting.