Neil Whitaker explains why mobile banking offers the straightforward solution your customers want.
The main thing that customers look for these days is a simple and straightforward solution to their problem, not bells and whistles, or ‘going above and beyond’.
Your customers are busy people who don’t want to have to stop their day to talk to you in order to make transactions, which is why we’re seeing such a massive uptick in mobile banking being used to perform financial services.
It’s quick, as secure as it needs to be, and therefore it’s hassle free – and it’s available to anyone, anywhere. Banking has evolved beyond going in to your local branch and using the bank’s website, to every channel possible.
In 2014 most of us are not without our smartphone in our pocket or bag. Banks and financial services providers therefore need to be where their customers are.
We’re talking true omni-channel integration of all mobile channels, with no discrepancy in service during a single interaction. It is only when all channels are perceived as one by banks and financial services that customers can be confident enough to say ‘hey, doing business with you is really easy!’
Of course, one idiosyncrasy of the industry is the constant battle to prevent fraud. With mobile, criminals potentially have another medium to exploit. Matching up ease of doing business with the absolute need to authenticate a user is no mean feat, but self-service is helping to strike that balance.
A typical customer conversation that starts on social media, requesting an account change, which then moves onto email for identity verification, which then may slip into mobile web to request a call-back from a live agent to solve more complex queries, is what truly forward-thinking financial services firms should be aiming for.
Neil Whitaker
The customer has expended very little effort at all, and they skip the contact centre queue. In many instances, they may not even need to be contacted by a live person, and the business has resolved the query quickly and satisfactorily, with little resource. We then have a happy customer.
The mobile banking revolution is here, and it will continue to change and grow as the technology develops. It is not a time for fear, change is inevitable and those who embrace it will truly reap the rewards.
With thanks to Neil Whitaker, UK sales Director of Finance at Aspect Software
Author: Megan Jones
Published On: 11th Jun 2014 - Last modified: 22nd Mar 2017
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