Customers are increasingly banking on their mobile phones, but not signing up for accounts with them. That’s a problem for banks.
Mobile banking is clearly an area where banks are investing heavily given how much people are flocking to it. Some are adding a variety of budgeting tools and other features to drive engagement, while others are imagining the mobile device evolving from a channel to the glue that holds everything together.
That makes the state of mobile onboarding all the more baffling — only 8% of bank customers were able to open an account of any kind entirely in the mobile channel, according to a Javelin consumer survey conducted last year and released in February of account opening features at the 30 largest banks in the U.S.
For more on this story visit the following link: If mobile banking is so easy, why is signing up so hard?
Source: American Banker