ath Power Consulting releases 2012 Mobile Banking Study

Banks not sufficiently promoting their mobile banking products

ath Power Consulting is a financial services research and customer experience development company in the US. Its latest study on mobile banking claims that banks are not sufficiently promoting their mobile banking products and services. “It is alarming that only 10% of users were prompted to first use their bank’s mobile channel by their actual bank. This indicates a clear lack of customer education, yet an obvious opportunity for banks to take initiative to promote their offerings,” said ath Power president and CEO, Frank Aloi.

The study revealed that remote deposit capture is the missing feature sought by most customers and that USAA bank has the highest level of customer satisfaction for its mobile banking offering with 73% of customers claiming high satisfaction. Other findings claim that mobile banking customers are more loyal than the general customer base with 1 in 8 saying they’ll change banks within 2 years compared to 1 in 5; the level of mobile offering is a key consideration in the choice of bank for the rich and small business owner demographics; customer support is lacking with only 1 in 5 users being offered an option to customise their interface and 40% failing to find the link for technical support. 

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