Comprehensive Performance Benchmarks for Retail Mobile Banking
Mobile is revolutionizing banking. In less than a decade from the release of the industry’s first apps, mobile banking has evolved from a mere banking accessory towards becoming the primary banking channel. The word is out, as digital transformation is a pressing priority in arguably every financial institution’s strategic plan. But in an industry that’s accustomed to having peer data, institution executives have lacked the context for evaluating their digital offering. The rapid pace of evolution makes timely, comparable data critically important – if not an outright competitive advantage.
FI Navigator Corporation has addressed this data deficiency through the development of proprietary banking vertical data and analytics platform with a specific focus on digital channels and offering. Validating the accuracy and uniqueness of the data, FI Navigator data subscribers include many of the mobile banking vendors highlighted herein and our vendor partners presently serve more than half of the mobile banking enrolled customers in the U.S.
Leveraging this data, FI Navigator has developed comprehensive performance benchmarking for retail mobile banking for credit unions in “Retail Mobile Banking Performance: Credit Union & Vendor Benchmarks”. The unprecedented research is enabled by comprehensive coverage of the 3,004 credit unions offering a retail mobile banking application and the 45 vendors providing hosted solutions over a three (3) year period ending September 30, 2017.
For the first time, financial institution executives are in a position to quantitatively answer “how are we doing?” when it comes to mobile banking performance. Additionally, institutions contemplating change can evaluate the performance of mobile banking vendors.