In a recent look at top CU trends, mobile was a more than common theme. However, it is important to understand that movement towards all things mobile is far more than a trend, but a true transition to how people choose to communicate, conduct business and live their lives.
Further evidence that “mobile” has a longer lifespan than the Trapper Keeper was explored in an article by CUNA, Demand Rises For Mobile Technology, World CU Leaders Told, that reflected on the discussion on mobile technology that took place at this week’s World Credit Union Conference.
Here are some highlights – and good motivators when considering new ways to make your credit union mobile
- It’s coming: The future of credit union services is mobile commerce
- Think integration: multifunctional, integrated and data-driven mobile payment solutions will be needed satisfy members’ needs and to stay relevant in the marketplace
- Consider new benefits: the cost of the transaction will be cheaper than any other channel
- Embrace change: mobile technology will continually disrupt the payments ecosystem and require adaptation to a new set of competitors
- Relationships key to mobile success: credit unions must find their niche and identify the partners who can help them offer mobile channels and products members demand
- You are not alone: World Council’s member organizations and associations list their greatest priorities as regulatory compliance relief and building the capacity of their credit unions to respond to the demand for mobile channels of delivery.
The key takeaway is this: with more members of all ages living a mobile lifestyle, it’s inevitable that they’ll be looking for a complete mobile banking solution. By arming yourself with the right technology, tools, and partnerships, it can be your credit union that plays a major part in members’ mobile lives.